Europe May Lower Russian Oil Price Cap Without U.S., Estonian Premier Says
The European Union is weighing a move to tighten its sanctions regime against Russia by lowering the price cap on Russian oil, and may proceed even without the backing of the United States, Estonian Prime Minister Kaja Kallas said on Tuesday.
Speaking at the Brussels Forum, Kallas emphasized that European nations control the main maritime routes through which Russian oil flows—particularly the Baltic and Black Seas—granting them leverage to act independently if necessary.
“Even if the Americans are not on board, we can still do it and have an impact,”
she said, referring to the EU’s authority over key shipping lanes and infrastructure.
The proposed measure—part of the EU’s 18th sanctions package against Moscow—would reduce the current price ceiling on Russian crude from $60 to $45 per barrel. The goal is to further curtail revenues the Kremlin uses to finance its war against Ukraine, now in its third year.
Officials in Brussels believe the cap adjustment could close loopholes that have allowed Russia to sell oil above the existing threshold, particularly through a so-called “shadow fleet” of tankers operating outside Western insurance and tracking systems.
But any change to the oil cap must be approved unanimously by all 27 EU member states. Several countries, including Hungary and Slovakia, remain skeptical. Slovakia’s prime minister, Robert Fico, has warned he will block any sanctions package that fails to address his country’s energy dependence on Russian supplies.
The European Commission, led by Ursula von der Leyen, has indicated that discussions with G7 partners are ongoing. A final decision is not expected until after the G7 summit in Canada later this month.
In addition to the oil price adjustment, the sanctions package under discussion includes blacklisting dozens of ships and captains suspected of circumventing the cap, expanding restrictions on Russian financial institutions, and banning dealings related to the Nord Stream gas pipelines.
Russia has dismissed the proposed measures as both ineffective and illegal. Kremlin spokesman Dmitry Peskov said Moscow has already adapted to the sanctions regime and accused the EU of destabilizing global energy markets.
Ukraine has called for even tougher action. President Volodymyr Zelensky has urged the EU to lower the oil price cap to $30 per barrel, arguing that deeper restrictions are needed to cut off Moscow’s war funding.
Without U.S. participation, analysts say the EU-led initiative may have limited global effect. Still, officials in Brussels insist the move would send a powerful message of determination to continue pressuring Russia.
