The European Commission has urged the United States to strictly adhere to the price restrictions on oil from the Russian Federation imposed by the G7. This appeal comes amid the ongoing joint operation by the US and Israel against Iran that has been in effect since late February.
This is reported by Kyiv24
European Commission’s Position on Restrictions
European Commissioner for Economy Valdis Dombrovskis emphasized the importance of strict enforcement of the price caps on Russian oil. According to him, this will effectively reduce military revenues for Russia while avoiding negative consequences for the global market. Dombrovskis also did not rule out the possibility of a complete ban on maritime oil transport if the situation demands it.
“It is very important to strictly adhere to the price cap imposed by the G7 and possibly move towards a complete ban on maritime transport to limit Russia’s military revenues, as the opposite approach would be self-destructive.”
Changes in US Sanctions Policy
On March 9, US President Donald Trump announced the lifting of some restrictions related to oil supplies. The aim of these decisions is to ensure stability in oil supply to the global market and to lower prices during a period of instability in the Persian Gulf region. President Trump emphasized that these restrictions will remain lifted until the Strait of Hormuz is opened.
Additionally, last week, US authorities allowed India to purchase Russian oil already placed in tankers at sea for 30 days. This decision was made to avoid an energy supply shortage amid the current geopolitical tensions.