Japan and New Zealand lowered the maximum price for Russian oil to $47.60 per barrel
From September 12, Japan and New Zealand lowered the ceiling price for Russian crude oil from $60 to $47.6 per barrel. With this decision, the countries joined Canada, the EU and Great Britain, which have already imposed sanctions against Russia due to the continuation of the war against Ukraine. reports Reuters.
The Ministry of Foreign Affairs of Japan clarified that the new price limit for Russian crude oil will apply to contracts concluded after September 12, as well as to those in which unloading is scheduled after October 17. This decision was made after the EU lowered the price limit for Russian oil to $47.60 in July as part of its 18th package of sanctions against Moscow.
According to Chief Cabinet Secretary Yoshimasa Hayashi, Japan will also introduce additional sanctions in the form of asset freezes and export controls against organizations in Russia and a number of other countries, “to join international efforts to achieve peace in Ukraine”.
At the same time, a representative of the Japanese Ministry of Industry noted that lowering the price threshold is unlikely to affect the volume of crude oil purchases in the country. However, Japan continues to buy Sakhalin Blend oil, which is a by-product of the production of liquefied natural gas within the Sakhalin-2 project. This resource is of strategic importance for the country’s energy security, as it accounts for about 9% of its total LNG imports. According to the official, operations related to Sakhalin are exempted from price cap rules.
The Ministry of Finance of Japan reported that in the period from January to July 2025, the country purchased 599,413 barrels of crude oil from Russia, which is only 0.1% of total imports. In addition, Tokyo imposes sanctions against 14 individuals, 48 companies and organizations from Russia, as well as three companies from the Seychelles and the Marshall Islands. Additionally, export restrictions are imposed on two companies in Russia and nine companies in the UAE, Turkey and China.
The New Zealand government also announced a reduction in the ceiling price for Russian oil to $47.6 per barrel.
“Reducing the ceiling price from $60 per barrel to $47.60 is a calculated move to cut critical oil revenues that fuel Putin’s illegal war of aggression against Ukraine, emphasized Foreign Affairs Minister Winston Peters.
He added that New Zealand has also imposed sanctions against Russian entities involved in cyberattacks against Ukraine, including Russian military intelligence and unit 29155 of the GRU of the General Staff of the Russian Federation.
“This is New Zealand’s 32nd sanctions package. It is directed against 19 individuals and legal entities, as well as 19 vessels. We have imposed sanctions against entities involved in chemical weapons and disinformation, as well as against shadow fleet vessels, alternative payment providers and third-country intermediaries in North Korea and Iran”,” said Peters.
