Announcement
03 Sep 2025
In September 2025, the government of Canada announced a reduction in the price cap for seaborne Russian-origin crude oil from USD 60 to USD 47.6 per barrel. The regulation retroactively entered into force on 28 August 2025. The decision follows the earlier announcement of intention in early August 2025.
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
28 Aug 2025
Revocation date:
No revocation date
Updated: 04 Sep 2025
Controls on commercial transactions and investment instruments
In force
On 28 August 2025, the Canadian Regulations Amending the Special Economic Measures (Russia) Regulations (SOR/2025-168), lowering the price cap for Russian oil, retroactively entered into effect. Th...
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Updated: 04 Sep 2025
Export-related non-tariff measure, nes
In force
On 28 August 2025, the Canadian Regulations Amending the Special Economic Measures (Russia) Regulations (SOR/2025-168), lowering the price cap for Russian oil, retroactively entered into effect. Th...
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Related State Acts
11 Aug 2025
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19 Jul 2025
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18 Jul 2025
United Kingdom: Government lowers Russian crude oil price cap to USD 47.60 per barrel
02 Dec 2022
Canada: Government prohibits the provision of financial and transport services related to Russian oil above USD 60 per barrel
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