The Canadian government announced this.The Canadian government stated that the country maintains “staunch opposition to Russia’s unjust and unprovoked war against Ukraine and unwaveringly supports the Ukrainian people’s right to defend their freedom, sovereignty, and independence.”To that end, Industry Minister François-Philippe Champagne and Foreign Minister Anita Anand announced that Canada intends to work with the EU and the UK to lower the price cap on Russian oil from $60 to $47.60 per barrel.“These actions are consistent with Prime Minister Justin Trudeau’s announcement of measures in support of Ukraine at the G7 Summit, including further sanctions on individuals, vessels, and entities that continue to support Russia’s aggression in Ukraine,” the statement reads.The necessary legislative changes in Canada are planned to be introduced in the coming weeks.“By further lowering the price cap on Russian crude oil, Canada and its partners are ratcheting up economic pressure and limiting a crucial source of funding for Russia’s illegal war. Our government has been a steadfast ally of Ukraine, and we will continue to support it in defending its territorial integrity, sovereignty, and peace for its people,” Champagne stated.The European Union lowered the price cap on Russian oil as part of the 18th sanctions package, which was finally adopted on Friday. This became possible after Slovakia and Malta withdrew their objections.