President Vladimir Putin said that we are working to strengthen Russia’s economic sovereignty.
Putin added that 2022 was a successful year for Russia.
Russian President Vladimir Putin signed a decree prohibiting the sale of oil and petroleum products to countries that set the maximum price for the sale of Russian oil from February next year.
According to the decision, the export ban will be in effect for 5 months, ending on July 1 next year.
A Finnish think tank said capping Russian oil prices is costing the Kremlin 160 million euros ($172 million) a day amid Western attempts to block Russia’s war machine in Ukraine.
A report from the Helsinki Center for Energy and Clean Air Research (CREA) says the lost profits will rise to $280 million a day when the restriction is extended to petroleum products from Feb. 5.
