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Canada, following the EU and the UK, lowered the price ceiling for Russian oil

Septiembre, 04 2025

The Canadian government has announced a reduction in the marginal price of Russian oil from $60 to $47.6 per barrel. The corresponding message was published on the official website of the Cabinet of Ministers.

«In accordance with the measures recently adopted by the European Union and the United Kingdom, Canada has set a new ceiling for the price of Russian crude oil at $47.6 per barrel instead of the previous $60,» the statement said.

The restrictions came into effect on September 3. The aim of these steps is called by the authorities to reduce Russia's income from energy exports.

In July, the European Union approved the 18th package of sanctions against Russia, which provides for lowering the ceiling on Russian oil prices to $47.6 and banning the import of petroleum products made from Russian raw materials. Later, similar measures were taken by the United Kingdom and Switzerland.

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Market updates and forecasts

Canada, following the EU and the UK, lowered the price ceiling for Russian oil

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