The Australian government has lowered the cap on Russian oil prices to $47.60 per barrel and imposed targeted sanctions on 95 vessels of the Russian “shadow fleet,” the country’s Ministry of Foreign Affairs reports.
Source: Bukvy
These measures are expected to reduce the market value of Russian oil and limit Russia’s revenues for funding the war. Australia is acting alongside international partners, including the EU, the UK, Canada, New Zealand, and Japan, while maintaining a full ban on the import of Russian oil and petroleum products.
Sanctions against the “shadow fleet” vessels aim to stop the circumvention of international restrictions. These ships often operate under different flags, turn off tracking systems, and have inadequate insurance, enabling illegal trade in oil and other goods.
Ukrainian Foreign Minister Andriy Sybiha thanked Australia for its support, noting that the new restrictions help limit Russia’s ability to finance the war and threaten global peace. He emphasized the importance of the Ukraine-Australia partnership in upholding shared values.
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