Russian President Vladimir Putin on Tuesday banned the sale of crude and other petroleum products to Western nations involved in limiting the price of Russian oil on the global market.
This month, the Group of Seven nations, the European Union and Australia together agreed to cap the price of Russian oil at $60 a barrel, as part of an effort to pressure Moscow over the war in Ukraine. The decree late Tuesday said it was a response to “actions that are unfriendly and contradictory to international law by the United States and foreign states and international organizations joining them,” the reported.
“Deliveries of Russian oil and oil products to foreign entities and indiuals are banned, on the condition that in the contracts for these supplies, the use of a maximum price fixing mechanism is directly or indirectly envisaged,” the decree said, adding that the ban would be in place for five months, from Feb. 1 to July 1.
Here’s the latest on the war and its ripple effects across the globe.
4. From our correspondents
Vadym Ustymenko, a member of a tank unit in Ukraine’s 25th Airborne Assault Brigade, described to The Post the difficulties of dealing with found tanks. “Those you could just start up or only needed a few minutes of work, you could count on one hand,” he said. “Those that needed some repair but would eventually run was another 30 percent probably. And the last 50 percent was junk that requires a whole lot of work.”
