Contents
THE EUROPEAN COMMISSION,Having regard to the Treaty on the Functioning of the European Union,Having regard to Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukrainenote, and in particular Article 7a thereof,Whereas:
(1)Regulation (EU) No 833/2014 gives effect to certain measures provided for in Council Decision 2014/512/CFSPnote.
(2)Council Decision (CFSP) 2022/1909note introduced in Decision 2014/512/CFSP an exemption from the prohibition to provide maritime transport and the prohibition to provide technical assistance, brokering services or financing or financial assistance, related to the maritime transport to third countries of crude oil or petroleum products which originate in or are exported from Russia, purchased at or below a pre-established price cap agreed by the Price Cap Coalition. That exemption should mitigate adverse consequences on energy supply to third countries and reduce price surges driven by extraordinary market conditions, while limiting Russian oil revenues.
(3)Council Decision (CFSP) 2022/2369note introduced the price cap into Annex XI of Decision 2014/512/CFSP, that is the price per barrel at or below which crude oil from Russia is exempt from the prohibition to provide maritime transport and the prohibition to provide technical assistance, brokering services or financing or financial assistance, related to the maritime transport to third countries.
(4)Council Decision (CFSP) 2025/1495note further amended Decision 2014/512/CFSP and provided for an automatic procedure to modify the price cap for Russian crude oil depending on the average market price of Russian crude oil. Thus, implementing powers were conferred to the Commission to amend the price cap for Russian crude oil in Annex XXVIII of Regulation (EU) No 833/2014 based on such a procedure.
(5)The amended price cap should apply as of the first day of the month following the month of entry into force of the Commission Implementing Regulation. Each time the price cap is amended, prior contracts that are compliant with the existing price cap should benefit from a transition period of 90 days for maritime transport and for the provision, direct or indirect, of technical assistance, brokering services or financing or financial assistance related to the maritime transport of Russian crude oil to third countries. That transition period is necessary to ensure the consistent implementation of the price cap by all operators.
(6)Annex XXVIII to Regulation (EU) No 833/2014 should therefore be amended accordingly,
HAS ADOPTED THIS REGULATION:
Article 1#
Annex XXVIII to Regulation (EU) No 833/2014 is amended as set out in the Annex to this Regulation.
Article 2#
This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union.
The price for crude oil in Annex XXVIII to Regulation (EU) No 833/2014 is replaced by the following:
‘Price for crude oilCN Code | Description | Price per barrel (USD) | Date of application | Date of expiry | Transitional period270900 | Petroleum oils and oils obtained from bituminous minerals, crude | 60 | 5 December 2022 | 2 September 2025 | 18 October 2025 for the execution of any contract concluded before 20 July 2025 which was compliant with the price per barrel of 60 USD on the date of conclusion of that contract.47,6 | 3 September 2025 | 31 January 2026 | 16 April 2026 for the execution of any contract concluded before 1 February 2026 which was compliant with the price per barrel of 47,6 USD on the date of conclusion of that contract.44,1 | 1 February 2026 | |
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.