OREANDA-NEWS  The Polish energy concern Orlen has terminated the last contract for the supply of oil from Russia, the head of the company Daniel Obaytek said on the Polsat TV channel.

The head of the Polish company Orlen, Daniel Obaytek, said on the air of the Polsat TV channel that the oil refining company refused the last contract with Russia for oil supplies with Tetneft.

He clarified that the contract could be terminated only if the oil did not arrive for a certain time.

"Oil stopped flowing after the visit of US President Joe Biden to Poland. Then we got an argument to abandon this agreement. It happened just a few days ago," said Obaytek.

According to him, in this situation, the oil and gas company will not incur any additional losses.

Oil sanctions of Western countries against Russia came into force on December 5, 2022: the European Union stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU imposed a price restriction on it during sea transportation at $60 per barrel - it is forbidden to transport and insure more expensive oil. In response, Russia banned the supply of oil to foreign persons from February 1, if the contracts directly or indirectly provide for the use of a mechanism for fixing the marginal price.