Russia will forbid oil resales under Western cost ceiling
Date
1/24/2023 3:16:03 AM
(MENAFN) The Western price ceiling system may soon prevent Russian exporters from selling oil to purchasers, according to a report by the Kommersant news site that quoted official sources.
A draft order requiring Russian legal firms and people to avoid including oil price restriction clauses in their contracts with foreign customers has reportedly been produced by the Ministry of Energy, based on the article. For the subsequent selling of Russian oil, they are also going to need to make sure that these customers, including merchants and agents, abide by this rule.
The contracts must also pass a Federal Customs Service check. The agency may forbid the export of the items included in the contracts if it discovers any infractions, particularly any reference of the price cap. According to individuals who spoke to the news site, the administration has not yet authorized the draft paper. As of yet, the Ministry of Energy has chosen not to respond to the findings.
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