By his Executive Order, the President extended the ban on the export of Russian oil and oil products until December 31, 2027, for contracts which use the price cap imposed by the G7 and the European Union. Previously, this ban was set to remain in force until June 30, 2026. The Executive Order introducing retaliatory measures in response to the price cap came into effect on February 1, 2023, and the application of this measure has been extended on several occasions.
Documents
Ban on export of Russian oil and oil products subject to applying price cap extended
The President signed Executive Order On Amendments to Presidential Executive Order No. 961 of December 27, 2022, On Special Economic Measures in the Fuel-and-Energy Sector in Response to the Price Cap on Russian Oil and Oil Produces Established by Some Foreign States.