Announcement
24 Feb 2023
On 24 February 2023, the government of Australia prohibited firms from providing services facilitating the maritime transport of certain Russian oil at or above a price cap of USD 100 or USD 45 per barrel.
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
15 Feb 2023
Revocation date:
No revocation date
Updated: 24 Sep 2025
Export-related non-tariff measure, nes
In force
Recent update from 24 Sep 2025:
On 15 February 2023, the government of Australia prohibited Australian entities from providing maritime transportation service related to the trading of Russian refined oil products at or...
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Updated: 24 Sep 2025
Controls on commercial transactions and investment instruments
In force
Recent update from 24 Sep 2025:
On 15 February 2023, the government of Australia implemented a prohibition on the provision of certain financial services related to the maritime transportation of Russian oil above&...
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Related State Acts
18 Sep 2025
Australia: Government lowers price cap on Russian crude oil and imposes sanctions on 95 vessels (September 2025)
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
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
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
07 Dec 2022
Australia: Government implements price cap of USD 60 per barrel of Russian crude oil
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