Putin signed a presidential decree extending countermeasures against Western restrictions on Russian oil prices.

On June 26th, local time, Russian President Putin signed a presidential decree extending the ban on the supply of Russian oil and oil products with price caps set by the Group of Seven and the European Union until December 31, 2027. The ban was originally set to expire on June 30th. According to the new decree, if supply contracts for Russian oil and its products directly or indirectly stipulate price cap mechanisms, it is prohibited to supply related products to foreign entities and individuals. This ban applies to all delivery stages. The presidential decree aimed at countering price caps on oil has been in effect since February 1, 2023, and its validity has been extended multiple times.