Announcement
03 Feb 2023
In February 2023, HM Treasury prohibited British entities from providing services facilitating the maritime transport of Russian oil if firms trade Russian seaborne crude oil at or above a price cap of USD 45 or USD 100 per barrel.
Source
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
05 Feb 2023
Revocation date:
No revocation date
Announced: 03 Feb 2023
Export-related non-tariff measure, nes
In force
On 3 February 2023, the Treasury Department of the United Kingdom prohibited British operators from providing maritime transportation service to third-country entities if they trade Russian refined oi...
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Announced: 03 Feb 2023
Controls on commercial transactions and investment instruments
In force
On 3 February 2023, the Treasury Department of the United Kingdom announced that the UK prohibited British entities from providing services facilitating the maritime transport of refined oil products ...
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Related State Acts
Removed: 15 Jan 2026
United Kingdom: Government lowers Russian crude oil price cap to USD 47.60 per barrel
Announced: 24 Feb 2023
Australia: Imposition of USD 100 per barrel price cap on Russian seaborne petroleum products
Announced: 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
Announced: 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
Announced: 03 Feb 2023
Canada: Price cap on seaborne petroleum products from Russia
Announced: 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
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
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