Date: 2026-01-15Category: Not ApplicableState: Union GovernmentCountry: Europe
Commission Implementing Regulation (EU) 2026/124 of 14 January 2026 amending Council Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine
**Executive Summary**
This Commission Implementing Regulation (EU) 2026/124, dated January 14, 2026, amends Council Regulation (EU) No 833/2014, concerning restrictive measures on Russia. It adjusts the price cap for Russian crude oil as specified in Annex XXVIII of Regulation (EU) No 833/2014. The amended price cap applies from the first day of the month following its publication. It also grants a 90-day transition period for contracts compliant with the previous price cap.
**Key Points / Main Content**
* **Amendment to Annex XXVIII:**
* Replaces the existing price information for crude oil in Annex XXVIII of Regulation (EU) No 833/2014 with updated values.
* **Price Adjustments:**
* From December 5, 2022, to September 2, 2025, the price per barrel was set at $60 USD.
* From September 3, 2025, to January 31, 2026, the price per barrel was set at $47.6 USD.
* From February 1, 2026, the price per barrel is set at $44.1 USD.
* **Transitional Periods:**
* A transitional period until October 18, 2025, is provided for executing contracts compliant with the $60 USD price cap, concluded before July 20, 2025.
* A transitional period until April 16, 2026, is provided for executing contracts compliant with the $47.6 USD price cap, concluded before February 1, 2026.
* **Entry into Force:**
* The Regulation enters into force the day after its publication in the Official Journal of the European Union.
**Impact Analysis**
**Stakeholder: Operators involved in Maritime Transport of Russian Crude Oil and related Services**
* **Impact**
* The operators must ensure their activities comply with the new price cap of $44.1 USD per barrel of Russian crude oil beginning February 1, 2026.
* They may benefit from a 90-day transition period for existing contracts that were compliant with the previous price caps.
* **Action Required**
* Update contracts and operational procedures to adhere to the new price cap of $44.1 USD.
* Ensure that new contracts comply with the rules and be aware of the transition period applicable for contracts concluded before February 1, 2026.
**Stakeholder: EU Member States**
* **Impact**
* The regulation is binding in its entirety and directly applicable in all Member States.
* **Action Required**
* Ensure consistent implementation and enforcement of the price cap regulation within their jurisdiction.
Key Entities Referenced
Council Regulation (EU) No 833/2014: Regulation concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine, which this document amends.
Council Decision 2014/512/CFSP: Decision concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine, which Regulation (EU) No 833/2014 implements.
Annex XXVIII to Regulation (EU) No 833/2014: The part of Regulation (EU) No 833/2014 amended by this implementing regulation, which contains the price cap for crude oil.
Price Cap Coalition: An entity establishing a pre-established price cap, purchased at or below on Russian crude oil, which if met provides an exemption on maritime transport
European Commission: The issuing body of the implementing regulation.
Official Journal EN
of the European Union L series
2026/124 15.1.2026
COMMISSION IMPLEMENTING REGULATION(EU) 2026/124
of 14 January 2026
amending Council Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s
actions destabilising the situation in Ukraine
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia’s
actions destabilising the situation in Ukraine(1), and in particular Article 7a thereof,
Whereas:
(1) Regulation (EU) No 833/2014 gives effect to certain measures provided for in Council Decision 2014/512/CFSP(2).
(2) Council Decision (CFSP) 2022/1909(3)introduced in Decision 2014/512/CFSP an exemption from the prohibition
to provide maritime transport and the prohibition to provide technical assistance, brokering services or financing or
financial assistance, related to the maritime transport to third countries of crude oil or petroleum products which
originate in or are exported from Russia, purchased at or below a pre-established price cap agreed by the Price Cap
Coalition. That exemption should mitigate adverse consequences on energy supply to third countries and reduce
price surges driven by extraordinary market conditions, while limiting Russian oil revenues.
(3) Council Decision (CFSP) 2022/2369(4)introduced the price cap into Annex XI of Decision 2014/512/CFSP, that is
the price per barrel at or below which crude oil from Russia is exempt from the prohibition to provide maritime
transport and the prohibition to provide technical assistance, brokering services or financing or financial assistance,
related to the maritime transport to third countries.
(4) Council Decision (CFSP) 2025/1495(5) further amended Decision 2014/512/CFSP and provided for an automatic
procedure to modify the price cap for Russian crude oil depending on the average market price of Russian crude oil.
Thus, implementing powers were conferred to the Commission to amend the price cap for Russian crude oil in
Annex XXVIII of Regulation (EU) No 833/2014 based on such a procedure.
(5) The amended price cap should apply as of the first day of the month following the month of entry into force of the
Commission Implementing Regulation. Each time the price cap is amended, prior contracts that are compliant with
the existing price cap should benefit from a transition period of 90 days for maritime transport and for the
provision, direct or indirect, of technical assistance, brokering services or financing or financial assistance related to
the maritime transport of Russian crude oil to third countries. That transition period is necessary to ensure the
consistent implementation of the price cap by all operators.
(6) Annex XXVIII to Regulation (EU) No 833/2014 should therefore be amended accordingly,
(1) OJ L 229, 31.7.2014, p. 1, ELI: http://data.europa.eu/eli/reg/2014/833/oj.
(2) Council Decision 2014/512/CFSP of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the
situation in Ukraine (OJ L 229, 31.7.2014, p. 13, ELI: http://data.europa.eu/eli/dec/2014/512/oj).
(3) Council Decision (CFSP) 2022/1909 of 6 October 2022 amending Decision 2014/512/CFSP concerning restrictive measures in view
of Russia’s actions destabilising the situation in Ukraine (OJ L 259I, 6.10.2022, p. 122, ELI: http://data.europa.eu/eli/dec/2022/
1909/oj).
(4) Council Decision (CFSP) 2022/2369 of 3 December 2022 amending Decision 2014/512/CFSP concerning restrictive measures in view
of Russia’s actions destabilising the situation in Ukraine (OJ L 311I, 3.12.2022, p. 8, ELI: http://data.europa.eu/eli/dec/2022/2369/oj).
(5) Council Decision (CFSP) 2025/1495 of 18 July 2025 amending Decision 2014/512/CFSP concerning restrictive measures in view of
Russia’s actions destabilising the situation in Ukraine (OJ L, 2025/1495, 19.7.2025, ELI: http://data.europa.eu/eli/dec/2025/1495/oj).
ELI: http://data.europa.eu/eli/reg_impl/2026/124/oj 1/3EN
OJ L, 15.1.2026
HAS ADOPTED THIS REGULATION:
Article 1
Annex XXVIII to Regulation (EU) No 833/2014 is amended as set out in the Annex to this Regulation.
Article 2
This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 14 January 2026.
For the Commission
The President
Ursula VON DER LEYEN
2/3 ELI: http://data.europa.eu/eli/reg_impl/2026/124/ojEN
OJ L, 15.1.2026
ANNEX
The price for crude oil in Annex XXVIII to Regulation (EU) No 833/2014 is replaced by the following:
‘Price for crude oil
Price per
CN Code Description barrel Date of application Date of expiry Transitional period
(USD)
2709 00 Petroleum oils 60 5 December 2022 2 September 2025 18 October 2025 for the
and oils obtained execution of any contract
from bituminous concluded before 20 July 2025
minerals, crude which was compliant with the
price per barrel of 60 USD on
the date of conclusion of that
contract.
47,6 3 September 2025 31 January 2026 16 April 2026 for the execution
of any contract concluded
before 1 February 2026 which
was compliant with the price
per barrel of 47,6 USD on the
date of conclusion of that
contract.’
44,1 1 February 2026
ELI: http://data.europa.eu/eli/reg_impl/2026/124/oj 3/3