Russian President Vladimir Putin signed on Monday an extension of the order that was created as a response to the West’s ceiling on Russia’s oil. The decree has been extended to the end of 2023. The order, which was drafted and approved back in 2022, and came into force in February 2023, prohibits the sale of the country’s oil and oil products to foreign parties that directly or indirectly implement the price cap introduced by “unfriendly countries.” Originally, the decree was supposed to expire on July 1, but the new date is now December 31. NN: One of the main arrows in Putin’s quiver is oil. He needs to use all the tools at his disposal.