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.
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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
Updated: 02 Dec 2022
Controls on commercial transactions and investment instruments
In force
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Updated: 02 Dec 2022
Export-related non-tariff measure, nes
In force
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Related State Acts
03 Sep 2025
Canada: Government decreases price cap on Russian oil from USD 60 to USD 47.6 per barrel
17 Jun 2025
Canada: Sanctions on various firms and vessels under the Special Economic Measures (Russia) Regulations (June 2025)
17 Jun 2025
Canada: Restrictions on trade with Russia and sanctions against the Russian quantum sector (June 2025)
21 Feb 2025
Canada: Government announces new trade and financial sanctions on several entities and Russian "shadow fleet" (February 2025)
16 May 2024
Canada: Sanctions against Russian entities in relation to the invasion of Ukraine and arms trade with North Korea (May 2024)
21 Feb 2024
Canada: Additional sanctions against Russia (February 2024)
09 Nov 2023
Canada: Additional sanctions against Russia in the context of the invasion of Ukraine (November 2023)
22 Aug 2023
Canada: Additional sanctions against Russian military and nuclear sectors (August 2023)
19 Jul 2023
Canada: Sanctions on Russian entities and arms exports restrictions (July 2023)
19 Jul 2023
Canada: Government imposes sanctions on Russian news companies (July 2023)
19 May 2023
Canada: Sanctions against a Russian publishing company
11 Apr 2023
Canada: New sanctions on Russian companies (April 2023)
10 Mar 2023
Canada: Import ban on Russian aluminium and steel
24 Feb 2023
Canada: Additional sanctions on trade with Russia and Russian entities
03 Feb 2023
Canada: Sanctions against more Russian media entities
27 Dec 2022
Russia: Prohibition of oil exportation to buyers following the price cap
07 Dec 2022
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
05 Dec 2022
Japan: Government announces actions related to the price cap on Russian oil imports from Russia in response to invasion of Ukraine
03 Dec 2022
EU: Operators prohibited from providing financial and transport services related to Russian oil above USD 60 per barrel
02 Dec 2022
United Kingdom: HM Treasury prohibits the provision of services facilitating the maritime transport of Russian oil above USD 60 per barrel
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
10 Mar 2022
Canada: Government bans petroleum imports from Russian and imposes sanctions on Russian entities
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