Overview

• Foreign Minister Penny Wong announced the lower cap from USD 60 to USD 47.60 per barrel as part of Australia’s Russia sanctions policy.
• Targeted measures add 95 more shadow-fleet tankers to Australia’s blacklist, taking total vessel listings since June 2025 to more than 150.
• The step was coordinated with partners including the European Union, the United Kingdom, Canada, New Zealand and Japan.
• Australia continues a total ban on imports of Russian oil and refined petroleum, complementing the price-cap enforcement.
• Officials cited the shadow fleet’s sanctions evasion and environmental and maritime safety risks, with Australia’s Russia-related sanctions now exceeding 1,600.