Recital 18

(18) Decision (CFSP) 2025/1495 provides for a dynamic automatic procedure to modify the price cap for Russian crude oil depending on the average market price of Russian crude oil. Such a procedure should ensure that the price cap is sufficiently low at all times to reduce Russia’s revenues from oil exports, taking into account previous price fluctuations. The implementing powers conferred to the Commission in order to amend the price cap for Russian crude oil based on such a procedure do not in any way create a precedent for the implementation of restrictive measures adopted by the Council unanimously. In view of the current global oil prices, a lower cap on the price of Russian crude oil should already be adopted in order to bring the price cap closer to the production costs of oil and thus further reduce Russia’s revenues from oil exports. 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 consistent implementation of the price cap by all operators. In addition, the existing review mechanism should be strengthened, and the Commission should monitor the functioning of the price cap, report to the Council every six months and propose amendments as appropriate. On the basis of such a report, the Council should review the functioning of the price cap mechanism, including the conferral of implementing powers, Annex XXVIII and the prohibitions in paragraphs 1 and 4 of Article 3n of Regulation (EU) No 833/2014.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-16 · Text as adopted (Official Journal); later amendments are not incorporated in this text.