Russia · Oil price cap
Russian oil price cap: EU, UK, Switzerland and US compared
As verified on 25 Oct 2026, the cap for Russian crude oil is USD 44.10 per barrel in the EU, the UK and Switzerland, and USD 60 in the United States. Petroleum products: USD 100 (premium-to-crude) and USD 45 (discount-to-crude) in all four.
Current caps (USD per barrel)
| Jurisdiction | Crude | Premium products | Discount products | Crude cap since |
|---|---|---|---|---|
| European Union | $44.10 | $100 | $45 | 1 Feb 2026 |
| United Kingdom | $44.10 | $100 | $45 | 31 Jan 2026 |
| Switzerland | $44.10 | $100 | $45 | 1 Feb 2026 |
| United States | $60 | $100 | $45 | 5 Dec 2022 |
Premium-to-crude products are e.g. diesel and gasoil; discount-to-crude products e.g. fuel oil and naphtha. The tariff lines are listed in each jurisdiction's rules.
European Union
- Review
- Dynamic cap (average Urals price over 22 weeks minus 15 %, reviewed every six months) — suspended from 24 July 2026 to 14 July 2027. The Council may change the cap on a Commission report due by 15 January 2027; the automatic procedure resumes on 15 July 2027.
- Wind-down
- Contracts that complied with the previous cap ($47.60) and were concluded before the change could be executed for 90 days, until 16 April 2026.
- Sources
- Implementing Regulation (EU) 2026/124 ↗Council Regulation (EU) 2026/1848 ↗European Commission — oil price cap guidance ↗
United Kingdom
- Review
- No automatic mechanism; changes are agreed with the Price Cap Coalition partners. Applies from 23:01 GMT on 31 January 2026.
- Wind-down
- Contracts at the previous cap ($47.60) concluded before 23:01 on 31 January 2026 were covered if the oil was offloaded by 22:59 on 16 April 2026. Guidance promises at least 45 days for future changes.
- Sources
- HM Treasury / OFSI — Russian oil services ban and price cap ↗UK maritime services ban and oil price cap — industry guidance ↗
Switzerland
- Review
- No automatic mechanism in the ordinance; the Federal Department of Economic Affairs amends Annex 28, so far following the EU.
- Wind-down
- 90 days after a change for contracts concluded before it that complied with the previous cap (Art. 35 para. 25).
- Sources
- Ordinance SR 946.231.176.72 (Ukraine), consolidated ↗Amendment of Annex 28, AS 2026 46 ↗
United States
- Review
- No automatic mechanism. The US has kept the original $60 crude cap; product caps since 5 February 2023.
- Wind-down
- —
- Sources
- Treasury determination — crude oil (E.O. 14071) ↗Treasury determination — petroleum products ↗OFAC — Russia sanctions programme page ↗
Questions
What is the Russian oil price cap in 2026?
As verified on 25 Oct 2026: USD 44.10 per barrel for Russian crude oil in the EU, the UK and Switzerland, and USD 60 in the United States. For petroleum products the caps are USD 100 (premium-to-crude, e.g. diesel) and USD 45 (discount-to-crude, e.g. fuel oil) everywhere.
When will the EU price cap change next?
The EU's automatic review is suspended from 24 July 2026 to 14 July 2027. The Council may change the cap on a Commission report due by 15 January 2027; otherwise the automatic procedure resumes on 15 July 2027.
What does the price cap prohibit?
Services for the maritime transport of Russian crude oil and petroleum products to third countries — such as shipping, insurance, financing and brokering — are prohibited unless the oil is bought at or below the cap. The exact scope, attestation duties and exceptions are set out in each jurisdiction's rules.
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