Announcement
18 Jul 2025
In July 2025, the UK government, in coordination with the EU, lowered the crude oil price cap on Russian exports from USD 60 to USD 47.60 per barrel to increase economic pressure on Russia.
Source
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
02 Sep 2025
Revocation date:
30 Jan 2026
Removed: 15 Jan 2026
Controls on commercial transactions and investment instruments
On 18 July 2025, the UK government, in coordination with the European Union, announced a reduction of the crude oil price cap on Russian exports from USD 60 to USD 47.60 per barrel. As a result of thi...
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Removed: 15 Jan 2026
Export-related non-tariff measure, nes
On 18 July 2025, the UK government, in coordination with the European Union, announced a reduction of the crude oil price cap on Russian exports from USD 60 to USD 47.60 per barrel. As a result of thi...
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Related State Acts
Announced: 15 Jan 2026
United Kingdom: Government lowers Russian crude oil price cap to USD 44.10 per barrel
To be terminated: 24 Feb 2026
Canada: Government decreases price cap on Russian oil from USD 60 to USD 47.6 per barrel
Removed: 31 Jan 2026
Switzerland: Further sanctions in response to Russia’s war against Ukraine, including lowered price cap on Russian crude oil (August 2025)
Removed: 23 Apr 2026
EU: 18th sanctions package against Russia for its invasion of Ukraine
Announced: 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
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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