Australia lowers price on Russian oil and sanctions ‘shadow fleet’
Photo: Australia hopes sanctions will hit the aggressor's war machine (Getty Images)
Australia has decided to lower the cap on Russian oil from $60 to $47.60 per barrel. The government has also imposed sanctions on 95 more ships of Russia’s “shadow fleet,” the websites of the Australian government and the Ministry of Foreign Affairs report.
“The action to lower the Oil Price Cap, from USD60 a barrel to USD47.60, will drive down the market value of Russian crude oil and help starve the Russian war economy of oil revenue,” the Ministry stated.
The country is implementing these measures alongside the European Union, the United Kingdom, Canada, New Zealand, and Japan. Australia also maintains a complete ban on the import of oil and oil products from Russia.
In addition, Australia is imposing targeted sanctions on 95 more vessels of Russia’s shadow fleet. In total, the government has already enacted restrictions on over 150 ships since June 2025.
Ukraine has already reacted to Australia’s decision. Foreign Minister Andrii Sybiha thanked the Australian government and his counterpart Penny Wong for decisive support of Ukraine and adherence to international law.
“Australia is helping to restrict Russia’s ability to fund its war and undermine global peace. We value our strong partnership with Australia and continue to stand together for shared values,” Ukraine’s Foreign Minister wrote on X.
Sanctions against Russia
The EU is preparing to present its 19th package of sanctions against Russia. According to the new restrictions, energy companies, banks, crypto exchanges, and Russia’s shadow fleet are expected to be targeted.
As for the US, Washington is so far reluctant to announce sanctions against Russia. Media reports have suggested that President Donald Trump deliberately set unrealistic demands for the EU to avoid sanctions on Moscow.
