EU lowers price cap on Russian oil: when will the new sanctions come into effect

According to hvylya.net: The European Union has decided to tighten sanctions against the Russian oil industry. According to new measures, prices for Russian oil will be capped starting from September 3 of this year.

The lowered price cap on oil will take effect starting September 3, 2025

As of August 8, a ban on financial operations with 22 Russian banks within the EU has already come into force. This sanctions package aims to damage key sectors of the Russian economy and is among the strictest, noted Kai Callas, the EU representative for foreign and security policy.

The European Union continues to impose sanctions on the Russian economy, targeting various sectors to support Ukrainian sovereignty and responding to events in eastern Ukraine.