EU Lowers Price Cap on Russian Oil Amid Shadow Fleet Concerns
The European Union announced a further lowering of the price cap on Russian oil from $47.6 to $44.1 per barrel on Thursday, in a move aimed at reducing the Kremlin’s revenue from its energy exports, which remains lucrative despite international sanctions.
Despite Russia’s monthly fossil fuel export revenues declining to their second-lowest level since the full-scale invasion of Ukraine began in 2022 last month, they still brought it approximately €500 million per day, according to The Centre for Research on Energy and Clean Air (CREA).
Russian Oil Exports Continue Despite Sanctions
Russian crude oil exports worth approximately €800 million were delivered by some 26 shadow fleet vessels in December 2025. Almost half of that oil was transported by falsely-flagged ships transiting the Danish straits on just 13 tankers, causing both Sweden and Finland to push for a complete ban on the transportation of oil and gas from Russia to EU ports.
The shadow fleet has been deemed responsible for circumventing international sanctions on Moscow over its invasion of Ukraine. The vessels in question have been falsely flagged or registered under other countries’ names to avoid detection by authorities.
European Countries Take Action
On Monday, Swedish Foreign Minister Maria Malmer Stenergard called for a total prohibition on European companies providing transport, insurance, port access and other services to Russian ships carrying energy exports. Sweden and Finland have also called for stricter limits on Russian fertiliser imports and a total ban on the export of luxury goods to Russia, arguing that such products carry political and symbolic weight irrespective of their actual value.
The EU’s decision to lower the price cap on Russian oil is seen as an attempt to reduce Moscow’s revenue from its energy exports. However, the shadow fleet continues to pose a significant challenge to international sanctions efforts.
Original Article: EU lowers price cap on Russian oil as shadow fleet continues to flout international sanctions — Novaya Gazeta Europe — Novayagazeta