Announcement
04 Feb 2023
In February 2023, the European Union published a regulation setting the price cap for Russian crude oil and petroleum products that activates the mechanism envisioned in Council Regulation (EU) 2022/1904 of October 2022 (see related state act).
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
2 in force
Implementation date
05 Feb 2023
Revocation date:
No revocation date
Controls on commercial transactions and investment instruments
In force
On 4 February 2023, the European Union, through Commission Implementing Regulation (EU) 2023/251, prohibited EU operators from providing certain commercial financing services to entities that provide ...
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Export-related non-tariff measure, nes
In force
On 4 February 2023, the European Union, through Commission Implementing Regulation (EU) 2023/251, prohibited EU operators from providing, directly or indirectly, transport services for the exportation...
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Related State Acts
03 Dec 2022
EU: Operators prohibited from providing financial and transport services related to Russian oil above USD 60 per barrel
03 Feb 2023
Canada: Price cap on seaborne petroleum products from Russia
24 Feb 2023
Australia: Imposition of USD 100 per barrel price cap on Russian seaborne petroleum products
03 Feb 2023
United States of America: Department of Treasury prohibits providing services facilitating the maritime transport of Russian petroleum products above USD 45 or USD 100 per barrel
03 Feb 2023
United Kingdom: HM Treasury prohibits the provision of services facilitating the maritime transport of Russian oil products above USD 45 or USD 100 per barrel
15 Feb 2023
Switzerland: Adoption of further economic sanctions against Russia, including price caps for Russian crude oil and petroleum products above USD 45 or USD 100 per barrel
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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