Russia's ban on oil supplies introduced in response to the Western price cap applies to existing contracts, which contain a link to this price ceiling, Kremlin spokesman Dmitry Peskov said on Wednesday, APA reports citing Urdupoint.
"If it (a contract) contains a reference to a certain price cap, then, of course, it (Russia's ban) is applied (to the contract). This is unacceptable. But if there is no link to a price cap, then it does not apply," Peskov told reporters.
On December 5, the European Union placed a price cap of $60 per barrel on Russian crude oil.
The G7 nations and Australia also capped Russian oil exports at $60 per barrel. In addition, the EU sanctions provide for a price ceiling on Russian refined products starting from February 5, 2023.
On Tuesday, Russian President Vladimir Putin responded to the sanctions by signing a decree that banned supplies of Russian oil and petroleum products if contracts directly or indirectly provide for a price cap.
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