EU considers maritime ban on Russian oil exports, awaits G7 decision

The European Union is seeking to tighten sanctions against Russia and considering a complete ban on maritime services that facilitate the export of Russian oil by sea. However, it must first reach agreement with its partners in the G7.

EU sanctions envoy David O’Sullivan said in Bishkek that Brussels had already lowered the price cap on Russian oil to around $44 per barrel and that, according to available data, Moscow’s oil and gas revenues had fallen significantly.

The proposed ban would go beyond previous measures and would primarily affect Western tankers, which transport more than a third of Russian oil, often to India and China. At the same time, it remains unclear how the ban would be enforced in practice and whether it would also apply to refined products or LNG.

Behind the scenes, the position of the US, which has not yet formally joined the coalition, appears likely to prove decisive.

(reuters, pir)