Skip to main content
A Singapore Government Agency Website How to identify
Official website links end with .gov.sg
Government agencies communicate via .gov.sg websites (e.g. go.gov.sg/open). Trusted websites
Secure websites use HTTPS
Look for a lock () or https:// as an added precaution. Share sensitive information only on official, secure websites.

Government officials will never ask you to transfer money or disclose bank log-in details over a phone call.

Call the 24/7 ScamShield Helpline at 1799 if you are unsure if something is a scam.

Ministry of Trade and Industry
1. Press releases

Advisory on the Price Cap Policy by the G7, European Union, and Australia for Crude Oil and Petroleum Products of Russian Federation Origin

8 December 2022

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

[Updated: 26 October 2023]

On 2 September 2022, the G7 Finance Ministers (comprising Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States (“US”)) announced their joint intention to implement a prohibition on the supply of services which enable the maritime transportation of crude oil and petroleum products originating from the Russian Federation, unless those crude oil and petroleum products are purchased at or below a set price (the “Price Cap Policy”). Since then, the European Union and Australia have also implemented the Price Cap Policy.

Please click here for the full advisory.

Back to top