price cap

NZ joins allies in slashing Russia’s oil price cap

New Zealand will join the EU, Britain, and Canada in lowering the price cap on Russian crude oil from $60 per barrel to $47.60 as part of the 32nd round of sanctions against the Russian dictator Vladimir Putin’s regime, Foreign Minister Winston Peters announced on Sep. 12.

12 September 2025, 02:32 PM

Canada joins EU, UK in Russian oil cap slash

Ottawa will join Brussels and London in lowering the price cap for Russian oil by 12% to make it harder for the Kremlin to fund its ongoing aggression against Ukraine, Canada’s Foreign Minister Anita Anand and Finance Minister François-Philippe Champagne announced amendments to the Special Economic Measures (Russia) Regulations on Sep. 3.

4 September 2025, 09:58 AM

UK joins EU’s new sanctions on Russian oil

London will join the EU in enforcing a lower price cap on sales of Russian oil worldwide, the UK government said in a statement on July 18.

18 July 2025, 09:38 PM

EU set to greenlight 18th Russia sanctions package

The European Union is expected to approve the 18th package of sanctions against Russia on July 18, after the Slovak veto was lifted, the Ukrainian public broadcaster Suspilne reported late on July 17, citing sources.

18 July 2025, 07:52 AM

EU to slash Russian oil profits with dynamic price cap

The European Union is expected to agree on July 14 the 18th package of sanctions against Moscow for its full-scale invasion of Ukraine that would include a dynamic price cap on Russian oil, Reuters reported on July 13, citing four EU sources.

14 July 2025, 07:07 AM

EU plans tougher sanctions on Russian crude

In its next sanctions package, the European Union is planning a mechanism to dynamically adjust the price cap on Russian oil in response to market fluctuations, Bloomberg reported on July 11.

12 July 2025, 04:40 PM

EU hopes to adopt 18th Russia sanctions package despite Hungarian and Slovak objections

EU diplomats expect to reach an agreement on the 18th package of sanctions against Russia during this week’s European Council meeting, Reuters reported on June 24.

25 June 2025, 02:11 AM

$30 oil price cap could compel Russia to stop, Zelenskyy says

Moscow would be unable to finance its war against Ukraine or launch an attack on NATO if the West lowers the price cap on Russian oil from $60 to $30 per barrel, Ukrainian President Volodymyr Zelenskyy said on June 24.

25 June 2025, 01:28 AM

Banking and energy sanctions cripple Putin’s war budget - Zelenskyy

Sanctions against Russia’s banking and energy sectors would deal the greatest blow to its economy, President Volodymyr Zelenskyy said, Ukrinform wrote on June 21.

23 June 2025, 02:43 PM

EU shelves $45 Russian oil price cap as Israel–Iran war agitates markets

European Union officials have delayed plans to lower the price cap on Russian oil from $60 to $45 per barrel amid the escalating war between Israel and Iran, Politico reported on June 20, citing multiple EU sources.

21 June 2025, 10:10 AM

Zelenskyy urges G7 to slash Kremlin’s oil revenues amid Russian terror attacks on Kharkiv and Odesa

Ukraine's President Volodymyr Zelenskyy has responded to the Russian nighttime Shahed drone strike against Ukraine's cities and civilians in his post on Telegram on June 20.

20 June 2025, 03:00 PM

US hesitation stalls EU move to lower oil price cap — Bloomberg

The European Union is facing difficulties in lowering the Russian oil price cap amid Iran-Israel tensions, Bloomberg wrote on June 16.

17 June 2025, 10:39 AM

Lower oil price cap could slash Russia’s revenue by billions

Lowering the Russian oil price cap from $60 to $45 per barrel could cut Russia’s May 2025 revenue by 27%, or €2.8 billion ($3.2 billion), in May alone but full compliance remains elusive, the Center for Research on Energy and Clean Air (CREA) reported on June 13.

14 June 2025, 02:01 PM

Rest of G7 prepared to lower Russian oil price cap without U.S.

Most of the G7 countries are ready to lower the price cap on Russian oil exports from $60 to $45 per barrel, even if U.S. President Donald Trump opts out of the plan, Reuters reported on June 12, citing four sources familiar with the matter.

12 June 2025, 08:28 PM

EU to push for lower Russian oil cap

The European Union will propose to the Group of Seven (G7) finance ministers to lower Russian seaborne oil cap as part of the new sanctions package against Moscow, European Economic Commissioner Valdis Dombrovskis said, Reuters reported on May 19.

20 May 2025, 09:22 AM

G7 may lower Russian oil price cap

The G7 countries are planning to revise the price cap on Russian oil to reduce Moscow's hard currency income, Bloomberg reported on Feb. 18.

18 February 2025, 11:31 PM

$45 oil price cap would bring Russia to negotiating table — Kellogg

Ensuring that Moscow cannot get more than $45 per barrel for its oil exports would compel the Kremlin to negotiate a peace deal with Kyiv, U.S. Special Representative for Ukraine Keith Kellogg said on Jan. 24.

25 January 2025, 12:19 AM

Baltic and Nordic countries push for lower Russian oil price cap

The European Commission has received a letter from ten EU member states in the Baltic and Northern Europe regions, urging a reduction in the price cap on Russian oil, news agency Interfax-Ukraine reported on Jan. 13.

14 January 2025, 11:03 AM

Western companies insure Russian oil tankers defying G7 sanctions

Western insurance companies have been providing coverage for Russian oil tankers, despite G7 price caps and sanctions aimed at reducing Russia's ability to finance its war in Ukraine, Reuters reported on Aug. 8.

8 August 2024, 04:24 PM

price cap