The Australian government has decided to significantly lower the price cap on Russian oil, setting it at $47.60 per barrel instead of the previous $60. This aims to reduce the Russian Federation’s revenue from oil exports and increase economic pressure on the military economy of the Russian Federation.
This is reported by Kyiv24
Additional Sanctions Against the Russian ‘Shadow Fleet’
In addition to financial restrictions, Canberra has imposed targeted sanctions against another 95 vessels of the so-called Russian ‘shadow fleet’. Thus, the total number of vessels under Australian sanctions has exceeded 150 since June 2025, when the first restrictions on maritime oil transport from Russia were introduced.
Coordination of Actions with International Partners
Australia is acting in close cooperation with partner countries, including the European Union, the United Kingdom, Canada, New Zealand, and Japan. The country’s authorities emphasize that the complete ban on the import of oil and petroleum products from Russian territory remains in effect.
“Australia has taken these measures in conjunction with our international partners, including the European Union, the United Kingdom, Canada, New Zealand, and Japan. Australia maintains a complete ban on the import of oil and petroleum products from Russia,” the Foreign Ministry reports.
Since the beginning of the full-scale Russian invasion of Ukraine, Australia has already imposed over 1600 individual and sectoral sanctions aimed at limiting the Russian Federation’s ability to finance military operations, particularly by restricting oil revenues.
In July of this year, the European Union introduced the 18th package of sanctions against Russia, lowering the price cap on Russian oil set by the G7 countries to $47.6 per barrel. This decision came into effect on September 3, 2025.