Australia Cuts Russian Oil Price Cap, Sanctions Shadow Fleet Vessels

Australia has lowered the price cap on Russian oil to $47.60 per barrel and expanded sanctions to cover an additional 95 vessels in Moscow’s so-called “shadow fleet.” 

The Gaze reports this, referring to an announcement made by Australia’s Ministry of Foreign Affairs.

The government said the move is designed to drive down the market value of Russian crude and deprive the Kremlin of revenues used to sustain its war economy.

Canberra is coordinating the measures with partners including the European Union, the United Kingdom, Canada, New Zealand, and Japan. Australia also continues to enforce a full ban on the import of Russian oil and petroleum products.

With the latest step, more than 150 vessels linked to Russia’s illicit shipping network have been targeted by Australian sanctions since June 2025.

Ukraine’s Foreign Minister Andrii Sybiha welcomed the decision, thanking Foreign Minister Penny Wong for Australia’s “resolute support” and commitment to international law.

“By lowering the Russian oil price cap and imposing targeted sanctions on 95 shadow fleet vessels, 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,” Sybiha said.

As The Gaze reported earlier, Ukraine proposed a sweeping new package of sanctions designed to intensify economic pressure on Russia, including measures against more than 400 vessels in Moscow’s so-called “shadow fleet” and tougher restrictions on oil trade.