Politically, Australia has increased its pressure on Russia by joining the allies who have lowered the price cap on Russian oil drastically, from $60 to $47.60 per barrel. The main objective of this action is to block money flows to the Russian war economy. In addition to this, the Australian government is also implementing sanctions on 95 more vessels in the so-called “shadow fleet” of Russia, which are the ships that poorly comply with trade restrictions that have been imposed internationally.
The government has decided to keep a total ban on the import of crude oil and refined petroleum products from Russia. These steps have been taken as part of a comprehensive, coordinated strategy with partners such as the European Union, the UK, Canada, New Zealand, and Japan. Before, Australia had imposed sanctions on the shadow fleet 150 of the ships that occur in the fleets since the first time they were first identified as being in June 2025.
Such steps signify Canberra’s desire to match foreign policy with international law and moral principles following the conflict in Ukraine. Besides, they are also a sign of Australia’s readiness to be present in the multilateral sanction systems, as a member, and to use economic policy to exert geopolitical influence.
Minister for Foreign Affairs Penny Wong, in addition to strongly reaffirming the country’s commitment to preventing Russia from using the war, also called for an immediate cessation of hostilities. The policy is a clear example of how trade, security, and diplomacy have become inseparable in Australia’s approach to foreign relations.
