Putin Extends Russian Oil Supply Ban Until December 31, 2027, on June 26

According to Jin10, on June 26, Russian President Putin signed a presidential decree extending the oil supply ban targeting G7 and EU-imposed price caps on Russian oil and petroleum products until December 31, 2027. The ban was originally set to expire on June 30. Under the new decree, supply of Russian oil and its products is prohibited to foreign entities if contracts directly or indirectly stipulate price cap mechanisms. The ban applies to all delivery stages and has been in effect since February 1, 2023, with multiple extensions.
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