Australia “strikes a blow” against Russian oil

“Measures to reduce the cap on oil prices from $60 per barrel to $47.60 will lead to a decline in the market value of Russian crude oil and help deprive the Russian military economy of oil revenues,” the Australian Foreign Ministry said.

The country is taking these measures together with the European Union, the United Kingdom, Canada, New Zealand, and Japan. It also maintains a complete ban on imports of oil and petroleum products from Russia.

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Australia is imposing targeted sanctions against another 95 vessels of Russia's “shadow fleet.” In total, the country's government has already legalized restrictions against more than 150 ships from June 2025.

Photo: ostro.org.

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