Photo: Collected –
Metropolis Desk-
On Wednesday, Russia’s president issued a directive announcing that oil companies that want to buy oil at rates set by the Western world, including the European Union, and G-7, cannot buy any oil from Russia from February 12.
In early December, the European Union imposed an embargo on Russian oil supplied by the sea. Along with that, they and the countries of the G-7 group (Canada, France, Germany, Italy, Japan, Britain, and America) set the price of buying that oil for the whole world at 60 dollars per barrel.
A decree by the Russian president effectively challenged that decision—“Russia’s doors are closed to foreign individuals and companies who want to buy oil at their fixed prices.”
