The European Union will reduce the price ceiling for Russian oil: when and by how much

The European Union plans to again lower the price ceiling for Russian oil starting next month.

This is stated on the website of the Council of the EU.

It is noted that against the backdrop of Russian aggression against Ukraine, from February 1, 2026, the price of oil from the Russian Federation will be limited to $44.1 per barrel.

At the same time, a transitional period will be in effect until April. It will allow paying $47.6 per barrel if the contract was concluded before February 1.

European officials made this decision the day before, on January 14, and it came into effect today.

Previously, a number of countries set a price ceiling for Russian oil at $60. This price was valid until 2025.

In September last year, the maximum price was recorded at $47.6 per barrel.

Recall that the previous decision to limit the price was made within the framework of the 18th package of sanctions against Russia and was aimed at limiting the revenues of the aggressor country, while maintaining the stability of the global energy market.

It is worth adding that the Russian federal budget in August received about 35% less oil and gas revenues compared to August last year.

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