The price ceiling for oil from the Russian Federation of $47.6 per barrel has come into effect. In January, it will be replaced by

On Wednesday, September 3, the European Union lowered the ceiling price for Russian oil from $60 to $47.6 per barrel. This decision was made as part of the of the 18th package of sanctions against Russia.

The restriction was also joined by Switzerland, United Kingdom and Canada.

In December 2022, EU member states and the G7 established a ceiling price for Russian oil of $60 per barrel.

As part of the 18th package of sanctions, the European Union decided that the price ceiling for Russian oil would be "floating" – set at 15% below the market price for the last ten weeks.

The new limit comes into effect on September 3. The next price ceiling for Russian oil will be published on January 15, 2026.

Starting Wednesday, the restriction will apply to contracts signed after July 20. For contracts signed before that date, the old level of $60 per barrel remains in place until October 18, 2025.

Price ceilings for oil products remained unchanged: $100 per barrel for light and $45 for heavy.

• Ukraine from the very beginning, I asked і is still asking set the threshold for Russian oil prices at $30 per barrel.
• Presidential Commissioner for Sanctions Policy Vladyslav Vlasiuk expressed the opinion that mechanism for revising the price ceiling for Russian oil not perfect, but effective.