Russia's President Vladimir Putin and his Emirati counterpart Mohamed bin Zayed Al Nahyan discussed the West's decision to impose non-market restrictions on the price of Russian oil in a telephone conversation, according to the Kremlin’s press service on Wednesday.
"[The parties] highlighted the effectiveness of joint work as part of OPEC+ to ensure the stability of the global oil market," the statement said.
"They noted with satisfaction that all participating states consistently implemented the agreed decisions."
The statement added that both leaders touched on the situation related to the attempts of a number of Western countries that contradict the principles of world trade to impose anti-market restrictions on Russian crude prices.
The G7 nations, the European Union, and Australia have agreed to impose a $60 per barrel price cap on Russian oil supplied by sea from December 5.
From February 5, 2023, price limits for petroleum products will come into effect, the standards for which will be determined later. t
The decision on the embargo on Russian oil supplies to the EU countries remained in force and also entered into force on December 5, but it should not affect fuel supplies through the Druzhba pipeline to Hungary, the Czech Republic, and Slovakia.
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