Bank Of Baku

Russia to ban supply of oil and oil products with price ceiling

Alexander Novak, Deputy  Prime Minister of Azerbaijan

© APA | Alexander Novak, Deputy Prime Minister of Azerbaijan

# 23 December 2022 11:42 (UTC +04:00)

The Russian Federation will ban the supply of oil and oil products to countries that demand compliance with the price ceiling imposed by the West, said Russian Deputy Prime Minister Alexander Novak, APA-Economics reports citing Russian press.

He stressed that at the beginning of 2023, daily oil production can be reduced by 500-700 thousand barrels, which means approximately 5-7%.

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