Australia has joined the reduction of the price cap on Russian oil and tightened sanctions against vessels of Russia's "shadow fleet," the country's Foreign Ministry announced on September 18, writes UNN.
The Australian government is lowering the price cap on Russian oil and imposing targeted sanctions on another 95 vessels of Russia's "shadow fleet."
The reduction of the oil price cap from $60 to $47.60 per barrel, as noted by the Australian Foreign Ministry, "will lead to a decrease in the market value of Russian crude oil and contribute to reducing oil revenues of the Russian war economy."
Australia reportedly took these measures in conjunction with international partners, including the European Union, the United Kingdom, Canada, New Zealand, and Japan. "Australia maintains a complete ban on the import of oil and petroleum products from Russia," the statement added.
"Australia will also impose targeted sanctions on another 95 vessels of Russia's 'shadow fleet.' With these additional sanctions, the Albanese government has sanctioned over 150 vessels of Russia's 'shadow fleet' since June 2025, when this was first done," the statement reads.
The vessels of the "shadow fleet," as indicated, are used to circumvent international sanctions and support Russia's war economy.
Australia has imposed over 1,600 sanctions in response to Russia's full-scale invasion of Ukraine.
"We will continue to take coordinated and decisive action to deprive Russia of the ability to finance its invasion, including by limiting its oil revenues," the Australian Foreign Ministry emphasized.
"Australia once again calls on Russia to immediately cease this war and withdraw from the territory of Ukraine. We remain firmly committed to a comprehensive, just, and lasting peace for Ukraine," the statement said.