The price cap for global purchases of Russian oil will come into force together with the EU crude ban in December 2022

EU Considers Temporary Freeze on Russian Oil Price Cap Amid Middle East Conflict

The European Union is considering temporarily freezing its price cap on Russian oil, which is currently set at $44.10 per barrel. The cap us

EU Considers Freezing Russian Oil Price Cap as Sanctioned Tankers Evade Seizure in UK Waters

The European Union is considering freezing the automatic adjustment mechanism for the price cap on Russian oil, while over 200 sanctioned Ru

EU may keep Russian oil price cap unchanged at $44 per barrel to pressure Moscow

EU Unveils 21st Sanctions Package Targeting Russian Oil, Banks, and Cryptocurrency

The European Commission presented its 21st sanctions package against Russia on June 9, targeting energy (particularly oil price caps), finan

EU Spent €2.3 Billion on Russian Fossil Fuels in May, Ranking as Fourth Largest Buyer

The European Union was the fourth largest buyer of Russian fossil fuels in May 2026, spending €2.3 billion ($2.62 billion), which accounted

Georgia's Sole Oil Refinery to Halt Russian Crude Processing by September to Avoid EU Sanctions

Georgia's only oil refinery, the Kulevi refinery owned by Black Sea Petroleum, announced it will stop processing Russian crude oil by August