Announcement
07 Dec 2022
On 7 December 2022, the Australian government announced the implementation of a price cap of USD 60 per barrel on Russian crude oil.
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Number of interventions
1
1 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
07 Dec 2022
Revocation date:
17 Sep 2025
Updated: 24 Sep 2025
Controls on commercial transactions and investment instruments
Recent update from 24 Sep 2025:
On 7 December 2022, the government of Australia prohibited the provision of certain financial services related to the maritime transportation of Russian oil above the price cap of US...
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Australia: Government lowers price cap on Russian crude oil and imposes sanctions on 95 vessels (September 2025)
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United States of America: Department of Treasury bans providing services facilitating the maritime transport of Russian oil above USD 60 per barrel
02 Dec 2022
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11 Mar 2022
Australia: Government bans imports of Russian oil and other energy products
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