Oil Prices Rise Following Putin's Response to Price Cap

Brent crude oil prices on the London ICE exchange have risen to $86 a barrel for the first time since December 5 of this year. This information was reported by Kp.ru.

The increase in the price of black gold occurred immediately after Russian President Vladimir Putin signed a decree regarding retaliatory measures in the fuel and energy sector.

It is important to note that President Putin signed a decree that counteracts the Western-imposed price cap on Russian oil, prohibiting sales to buyers who adhere to this limit from February. The document was published on Tuesday.