EU’s 18th Sanctions Package to Slash Russian Oil Price Cap Starting September 3

The reduced price cap on Russian oil, introduced under the European Union’s 18th sanctions package, will take effect on September 3, 2025.

This was confirmed by Arianna Podestà, Deputy Chief Spokesperson of the European Commission, in a comment to Ukrinform on August 6.

“The reduced oil price cap will apply from September 3, 2025,” the spokesperson said.

She also noted that another provision of the package—a ban on financial transactions involving 22 additional Russian banks—will come into force on August 8.

Podestà added that most of the measures outlined in the 18th sanctions package have been in effect since mid-July, following its adoption by the Council of the European Union.

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Why Only a Full Oil Embargo Can Cripple Russia’s War Economy

Apr 03, 2025 13:44

Unveiled on July 10, the 18th package introduced a sweeping set of measures aimed at tightening enforcement and disrupting the Kremlin’s key revenue streams. One of the most significant steps is the reduction of the oil price cap from $60 to $45 per barrel—marking the first such move since the start of Russia’s full-scale invasion of Ukraine.

The package also targets sanctions evasion by expanding the EU’s blacklist of Russia’s so-called “shadow fleet” by 77 vessels, bringing the total to 419. These ships are believed to be involved in the covert transport of sanctioned Russian oil.

Earlier, it was reported that US President Donald Trump is reportedly preparing to impose sanctions on Russia’s so-called shadow fleet of oil tankers unless Moscow agrees to a ceasefire in Ukraine by August 8.

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