Putin signs presidential decree to extend countermeasures against Western oil price limits until the end of 2027

According to CCTV News, on June 27th, Russian President Putin signed a presidential decree extending the ban on the supply of Russian oil and petroleum products, which is subject to price ceilings set by the G7 and EU, until December 31, 2027. According to the new law, if the supply contract of Russian oil and its products directly or indirectly stipulates a price cap mechanism, the supply of related products to foreign legal persons and individuals is prohibited, and this ban applies to all delivery stages.