EU fixes end date for Russian oil price-cap review pause
The European Union corrected its Russia sanctions decision to specify that a pause in the Russian crude oil price-cap adjustment process runs through July 14, 2027.
BRUSSELS, July 31, 2026 — The European Union has set a fixed endpoint for its pause in the process used to adjust the price cap on Russian crude oil, correcting language that previously omitted an end date.
The corrected provision suspends the European Commission’s related obligations from July 24, 2026, through July 14, 2027. Those obligations include calculating the average market price of Russian crude over 22 weeks, publishing a notice of that price and amending Annex XXVIII to Regulation (EU) No. 833/2014.
The original text of Council Decision (CFSP) 2026/1849 said only that the suspension began July 24, leaving its duration unstated. The corrigendum published July 31 adds the July 14, 2027, cutoff.
The decision explains that the applicable oil price cap will remain in place during the suspension unless the Council decides to amend it after an interim review. The original adjustment procedure is scheduled to resume July 15, 2027, when the Commission is to publish a notice setting out the new cap and amend the relevant regulation.
For sanctions compliance and list-maintenance teams, the correction provides a defined period during which the Commission’s market-price calculation, notice and related annex amendment are paused. The measure forms part of EU restrictive measures responding to Russia’s actions destabilizing Ukraine.
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