Recital 11

Council Regulation (EU) 2026/506 of 23 April 2026 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine · European Union

(11) Decision (CFSP) 2026/508 amends the price cap for Russian crude oil and petroleum products. The Decision also provides that the Council is to be informed as soon as possible of any agreement of the Price Cap Coalition and of G7 discussions, and that the Council is to decide, based on a joint proposal from the High Representative of the Union for Foreign Affairs and Security Policy and the Commission, on the application of the oil price cap, with the result that a full ban on maritime services related to Russian crude oil and petroleum products would enter into force.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.