Announcement
02 Dec 2022
In December 2022, the government of Canada announced the imposition, together with the rest of G7 and Australia, of a price cap on Russian oil at USD 60 per barrel.
Source
Sign in to access
Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
07 Dec 2022
Revocation date:
No revocation date
Announced: 02 Dec 2022
Controls on commercial transactions and investment instruments
In force
On 2 December 2022, the government of Canada announced the imposition of the "price cap" on Russian oil, effectively prohibiting the provision of financial services related to maritime transportation ...
Sign in to see more
Announced: 02 Dec 2022
Export-related non-tariff measure, nes
In force
On 2 December 2022, the government of Canada announced the "price cap" on Russian oil, banning the provision of maritime transportation services related to crude Russian oil sold above USD 60 per barr...
Sign in to see more
Related State Acts
To be terminated: 24 Feb 2026
Canada: Government decreases price cap on Russian oil from USD 60 to USD 47.6 per barrel
Announced: 17 Jun 2025
Canada: Sanctions on various firms and vessels under the Special Economic Measures (Russia) Regulations (June 2025)
Announced: 17 Jun 2025
Canada: Restrictions on trade with Russia and sanctions against the Russian quantum sector (June 2025)
Announced: 21 Feb 2025
Canada: Government announces new trade and financial sanctions on several entities and Russian "shadow fleet" (February 2025)
Announced: 16 May 2024
Canada: Sanctions against Russian entities in relation to the invasion of Ukraine and arms trade with North Korea (May 2024)
Announced: 21 Feb 2024
Canada: Additional sanctions against Russia (February 2024)
Announced: 09 Nov 2023
Canada: Additional sanctions against Russia in the context of the invasion of Ukraine (November 2023)
Announced: 22 Aug 2023
Canada: Additional sanctions against Russian military and nuclear sectors (August 2023)
Announced: 19 Jul 2023
Canada: Government imposes sanctions on Russian news companies (July 2023)
Announced: 19 Jul 2023
Canada: Sanctions on Russian entities and arms exports restrictions (July 2023)
Announced: 19 May 2023
Canada: Sanctions against a Russian publishing company
Announced: 11 Apr 2023
Canada: New sanctions on Russian companies (April 2023)
Announced: 10 Mar 2023
Canada: Import ban on Russian aluminium and steel
Announced: 24 Feb 2023
Canada: Additional sanctions on trade with Russia and Russian entities
Announced: 03 Feb 2023
Canada: Sanctions against more Russian media entities
Announced: 27 Dec 2022
Russia: Prohibition of oil exportation to buyers following the price cap
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: 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: 03 Dec 2022
EU: Operators prohibited from providing 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: 10 Mar 2022
Canada: Government bans petroleum imports from Russian and imposes sanctions on Russian entities
Threads
See all
Harmful Trade Policy Measures
This Thread tracks harmful trade policy interventions affecting all products. Covering all types of interventions monitored by Global Trade Alert, it highlights how the yearly number of these measures has evolved over time.
Published: 04 Sep 2024
70627
interventions
194
jurisdictions
Economic Sanctions Related to the Russian Invasion of Ukraine
This Thread outlines restrictions on trade, financial transactions, and economic activities imposed on commercial entities by any jurisdiction, provided these measures are directly related to the Russian invasion of Ukraine. Additionally, the Thread includes sanctions against non-Russian commercial entities from other jurisdictions if these measures were adopted on the grounds of their involvem...
Published: 09 Jan 2025
1455
interventions
41
jurisdictions
G7: Harmful Trade Policy Interventions
This Thread tracks harmful trade policy interventions introduced by G7 members since 2009. It covers all types of interventions monitored by Global Trade Alert.
Published: 13 Jan 2025
25516
interventions
38
jurisdictions
G20: Harmful Trade Policy Interventions
This Thread tracks harmful trade policy interventions introduced by G20 members since 2009. It covers all types of interventions monitored by Global Trade Alert.
Published: 15 Jan 2025
53959
interventions
121
jurisdictions