Announcement
03 Dec 2022
In December 2022, the European Union published a regulation setting the price cap for Russian oil that activates the mechanism envisioned in Council Regulation (EU) 2022/1904 of October 2022 (see related state act).
Source
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
05 Dec 2022
Revocation date:
No revocation date
Announced: 03 Dec 2022
Export-related non-tariff measure, nes
In force
On 3 December 2022, the European Commission prohibited EU operators from providing, directly or indirectly, transport services for the exportation of Russian oil priced above USD 60 per barrel. The me...
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Implementation date
05 Dec 2022
Revocation date:
02 Sep 2025
Announced: 03 Dec 2022
Controls on commercial transactions and investment instruments
On 3 December 2022, the EU Commission prohibited EU operators from providing certain commercial financing services to entities that provide transportation-related services for the exportation of Russi...
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Related State Acts
Announced: 04 Feb 2023
EU: Operators prohibited from providing financial and transport services related to Russian crude oil and petroleum products above USD 45 or USD 100 per barrel
Removed: 02 Sep 2025
Switzerland: Provision of financial and transport services related to Russian oil above USD 60 per barrel prohibited and 2 Iranian military drone manufacturers added to the frozen fund list
Announced: 07 Dec 2022
Australia: Government implements price cap of USD 60 per barrel of Russian crude oil
Announced: 05 Dec 2022
Japan: Government announces actions related to the price cap on Russian oil imports from Russia in response to invasion of Ukraine
Announced: 02 Dec 2022
Canada: Government prohibits the provision of financial and transport services related to Russian oil above USD 60 per barrel
Announced: 02 Dec 2022
United States of America: Department of Treasury bans providing services facilitating the maritime transport of Russian oil above USD 60 per barrel
Announced: 02 Dec 2022
United Kingdom: HM Treasury prohibits the provision of services facilitating the maritime transport of Russian oil above USD 60 per barrel
Announced: 06 Oct 2022
EU: Adoption of a price cap mechanism for Russian crude oil and petroleum products, as well as additional trade sanctions
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