Investigating sexual violence as war crimes — "He Came Back"
Our War Crimes Investigations Unit released its new documentary, “He Came Back”. The film is about two cases of sexual violence committed by Russian soldiers during the occupation of Kherson and Kyiv oblasts in 2022 — and the process of identifying the offenders. Watch it on our YouTube channel.
Skip to content
Edit post

Russia bans oil exports to countries that abide by $60 price cap.

by The Kyiv Independent news desk December 27, 2022 9:13 PM 1 min read
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

Russian dictator Vladimir Putin on Dec. 27 signed a decree to ban oil and oil product exports to countries complying with the West's $60 per barrel price cap on Russian crude.

The Russian ban on crude oil exports will come into effect on Feb. 1, but the date for the oil products ban will be determined by the Russian government and could be after Feb. 1.

The ban applies to oil supplied under contracts that "directly or indirectly" stipulate the $60 price cap. It is not clear if it will apply to oil priced below $60 per barrel under contracts that do not mention the price cap.

Under the decree, Putin can also exempt some of the oil exports to countries imposing the price cap from the ban.

The decree was presented as a response to “unfriendly" actions by the United States and their allies.

On Dec. 5, G7 and the EU started implementing the $60 per barrel price cap on Russian seaborne oil in order to limit the Kremlin's ability to fund its aggression against Ukraine.

Since the EU, the UK and the US have already banned the imports of Russian seaborne crude, the price cap mostly applies to other countries that still buy Russian oil. Insurers for the oil market, which are mostly based in the West, are banned from dealing with Russian oil priced above the cap.

The EU will also start implementing an embargo on Russian oil products starting from Feb. 5.

Before you skip this banner, we want to tell you something…

The Kyiv Independent doesn’t depend on a wealthy owner or an oligarch — in 2023, 80% of our revenue was from reader contributions . It’s thanks to them that we don’t have to rely on a single owner.

Support us now and help maintain our independent model and keep our articles free for everyone. Your contributions allow us to cover journalists’ salaries, report from the front lines, and fund projects like our War Crimes Investigations Unit.

visa masterCard americanExpress

News Feed

3:37 PM

Zelensky: All parts of the world represented at peace summit.

"All parts of the world, all continents, different nations, both large and small geographically, and every political pole of our world—Latin America, the Middle East and Asia, Africa, Europe, the Pacific, Australia, North America—are all represented at the summit," President Volodymyr Zelensky said.
Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
12:54 AM

Germany blocks sanctions on Russian gas.

European Union countries failed to approve a new sanctions package targeting the Russian gas industry after German authorities intervened to block the deal at the last minute.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.