Announcement
15 Jan 2026
In January 2026, the European Commission announced a reduction in the price cap for crude oil originating in or exported from Russia from USD 47.6 to USD 44.1 per barrel. The new price cap enters into force on 1 February 2026.
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
01 Feb 2026
Revocation date:
No revocation date
Clarification: 23 Jul 2026
Export-related non-tariff measure, nes In force
Recent update from 23 Jul 2026:
On 23 July 2026, the EU suspended the automatic six-monthly adaptation mechanism from 24 July 2026 until 14 July 2027, leaving the cap at USD 44.1 per barrel unless the Council decides otherwise fo...
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Clarification: 23 Jul 2026
Controls on commercial transactions and investment instruments In force
Recent update from 23 Jul 2026:
On 23 July 2026, the EU suspended the automatic six-monthly adaptation mechanism from 24 July 2026 until 14 July 2027, leaving the cap at USD 44.1 per barrel unless the Council decides otherwise fo...
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Related State Acts
Announced: 23 Jul 2026
EU: 21st sanctions package against Russia for its invasion of Ukraine (July 2026)
Announced: 29 Jan 2026
Switzerland: Provision of financial and transport services related to Russian oil above USD 44.1 per barrel prohibited
Announced: 15 Jan 2026
United Kingdom: Government lowers Russian crude oil price cap to USD 44.10 per barrel
Removed: 23 Apr 2026
EU: 18th sanctions package against Russia for its invasion of Ukraine
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