The EU is preparing to lower the ceiling price for Russian oil – new sanctions are on the way
14.07.2025 - 09:58
The new sanctions package includes an updated pricing mechanism and increased control over Russia’s shadow fleet.
The EU is finalizing the details of the 18th package of anti-Russian sanctions, which includes a reduction in the ceiling price for oil from Russia, Reuters reported, citing sources.
According to the sources, the new restrictions include the introduction of a floating pricing mechanism, under which the ceiling price will be 15% below the average market price of crude oil over the past three months. Initially, it will be about $47 per barrel. The price will be reviewed every six months, rather than quarterly, as previously proposed.
The current ceiling of $60 per barrel, set by the G7 countries in December 2022, no longer corresponds to the market situation due to the fall in futures prices.
The restriction includes a ban on the transportation of Russian crude oil by tankers if it is sold above the established limit. Also banned are ancillary services, including insurance and brokerage operations. This mechanism is designed to limit the financing of Russian aggression against Ukraine.
Separately, sources reported that the new sanctions will also cover the transport and logistics infrastructure that Russia uses to circumvent restrictions. In particular, the list will include:
• an oil refinery in India that works with Russian oil,
• two Chinese banks,
• a registry of shipping flags that serves the fleet under a “flag of convenience”.
Formal approval is expected on Monday, ahead of a meeting of foreign ministers of member states in Brussels.
The EU is also agreeing on additional restrictions on the Nord Stream infrastructure and financial schemes that help the Kremlin circumvent sanctions. Certain technical reservations remain in Slovakia, which expects guarantees for energy supplies, but has agreed to the main provisions of the package.
USM also recently wrote that the US is preparing for tough sanctions against Russia and its oil buyers.
