This is stated on the Canadian government’s website.The country plans to lower the maximum price for Russian oil from $60 to $47.60 per barrel.The Canadian government says the lower ceiling will weaken Russia’s ability to fund its illegal war and will increase pressure on the military apparatus of Russian leader Vladimir Putin.The necessary regulatory changes in Canada are planned in the coming weeks, the government said.In early December 2022, the G7 countries, along with Australia and the EU, capped the price of Russian oil at $60 per barrel.On July 18, the EU Council approved its 18th package of sanctions against Russia. Among other measures, it lowered the price ceiling for Russian oil to $47.60 per barrel. Britain later joined the price cut.