Russia drafts decree banning sale of oil to price-cap participants

It would essentially ban any reference to a price cap in contracts for Russian crude oil or products, and prohibit loadings destined for any countries that adopt the restrictions

The Kremlin is drafting a presidential decree that will prohibit Russian companies and any traders buying the nation’s oil from selling it to anyone that participates in a price cap, according to a person with knowledge of the matter. 
 

The decree will forbid dealings with both companies and countries that join the price-cap mechanism, the person said, without giving an exact definition of how participation in such a mechanism would be defined. It would essentially ban any reference to a price cap in contracts for Russian crude oil or products, and prohibit loadings destined for any countries that adopt the