The European Union and the United Kingdom have approved a new cap price on Russian oil, setting it at $44.1 per barrel. This decision will take effect on February 1. For contracts concluded before this date, a transition period until April 16 is provided. The corresponding change has also been supported by partner countries: Switzerland, Canada, Japan, New Zealand, and Australia.
This is reported by Business • Media
Floating Price Ceiling and Sanctions
As part of the 18th sanctions package, the European Union has decided to implement a “floating” price ceiling, which will be automatically calculated at 15% below the average market price over the last 10 weeks. The previous reduction in the oil price was approved on September 3, 2025, when the cap price decreased from $60 to $47.6 per barrel.
The UK and Allies Strengthen Control Over the Shadow Fleet
Alongside the price restrictions, the United Kingdom has expressed its readiness to cooperate with European allies to intercept tankers from Russia’s shadow fleet that are attempting to evade sanctions. According to Foreign Secretary Yvette Cooper, last week British military forces supported a U.S. operation to intercept a Russian tanker in the Atlantic. The UK government is currently developing legal tools that will allow the military to detain such vessels. Provisions of the Sanctions and Anti-Money Laundering Act of 2018 may be used for this purpose, providing a legal basis for decisive action.
“The country is ready to work with European allies to intercept oil tankers from Russia’s shadow fleet that violate sanctions. Last week, British military forces supported an American operation to intercept a Russian tanker in the Atlantic.”
At the same time, according to Bloomberg, a significant number of tankers carrying Russian oil remain at sea without unloading, which is linked to the loss of one of the main markets – India. This further complicates the situation for Russian exporters, who are facing increasing international pressure and control over oil trade.