Canada lowers price cap for Russian oil
4.09.2025 - 10:45
The new price ceiling could mean a loss of up to $200 million in monthly income for Russia.
This was announced by the Ukrainian presidential commissioner for sanctions policy, Vladyslav Vlasyuk.
On Thursday, September 4, Canada officially lowered the price cap for Russian oil to $47 per barrel.
“In fact, this means that any financial, transport or brokerage services related to the transportation of Russian oil above this limit become prohibited. The ban also applies to STS,” Vladyslav Vlasyuk said.
According to him, minus one dollar per barrel of Russian oil means minus $200 million in monthly income.
“That is, 47 versus 60 could mean up to $10 billion in losses by the end of the year. We are working to fully comply with the price ceiling,” the commissioner noted.
As previously reported by USM, a new restriction on Russian oil came into effect in the European Union on September 3 – the price “ceiling” was lowered from $60 to $47.6 per barrel.
