Australia lowers Russian oil price cap, imposes sanctions on Russia’s “shadow fleet”

The Australian government is lowering the price cap on Russian oil to USD 47.60 and imposing targeted sanctions on a further 95 vessels belonging to Russia’s “shadow fleet.”

This was reported in a statement by the Australian Government Department of Foreign Affairs, according to Ukrinform.

The ministry believes that this decision will reduce the market value of Russian oil and deprive Russia’s war economy of revenue.

Australia has taken this action jointly with the European Union, the United Kingdom, Canada, New Zealand, and Japan. The country also maintains its total ban on the import of oil and petroleum products from Russia.

In addition, Australia is imposing targeted sanctions on a further 95 vessels of Russia’s “shadow fleet.” Thus, since June 2025, the Australian government has already sanctioned more than 150 ships.

Ukraine’s Minister of Foreign Affairs Andrii Sybiha thanked the Australian government and his counterpart Penny Wong for their decisive support of Ukraine and adherence to international law.

“By lowering the Russian oil price cap and imposing targeted sanctions on 95 shadow fleet vessels, Australia is helping to restrict Russia’s ability to fund its war and undermine global peace,” Ukraine’s top diplomat noted.

As Ukrinform reported earlier, the European Commission is still working on the next, 19th package of sanctions against Russia in close cooperation with the U.S. and G7 countries.

Photo: RebeccaLintzPhotography / pixabay