In the 20th sanctions package, which was recently adopted by the European Union, there is no complete ban on providing maritime services for vessels transporting Russian oil, although such a measure was initially considered. According to a representative of the European Commission, this issue remains relevant for the next stages of sanctions policy, and it is planned to be discussed within the framework of the G7.
This is reported by Kyiv24
European Commission clarifies reasons for the postponed ban
An official from the European Commission, who wished to remain anonymous, emphasized that introducing such a ban could make the sanctions policy more effective and transparent, as well as simplify its implementation mechanisms. The aim of this step is to reduce Russia’s revenues from crude oil exports by sea and to decrease the volumes of its supplies to the global market, which are still being carried out with the involvement of services from G7 coalition countries and the Price Cap Coalition.
“Such a transition will make our policy more effective, transparent, and easier to implement in order to reduce Russia’s revenues and the volumes of maritime crude oil exports. The goal of this measure, to be clear, compared to the price cap mechanism (from which they plan to withdraw – ed.), is to reduce the volumes that Russia is capable of supplying to the market. Part of these volumes is still being supplied using the services of G7 coalition countries and the Price Cap Coalition,” the official noted.
According to the official, there is a common understanding within the G7 of the necessity of such an approach; however, the implementation of restrictions is currently being held back by the energy crisis caused by the war in the Middle East. He emphasized that now is not the most suitable time to introduce a complete ban on maritime services, as this requires both coordinated actions within the G7 and favorable market conditions.
Possibility of EU decision-making without the consent of all G7 countries
The official noted that this issue could be considered by the European Union at any moment when the appropriate conditions arise. He added that the EU seeks to achieve a common position with the G7 but reserves the right to make decisions even without full support from all G7 countries. According to him, the ideal scenario is the joint implementation of such a step; however, the text of the 20th sanctions package does not rule out the possibility of actions by the EU independently.
On April 23, the EU Council unanimously approved changes to the European Union’s multiannual budget, which provide for a loan of 90 billion euros to Ukraine. The 20th sanctions package was also finalized, with individual restrictions against representatives and organizations linked to the Russian military-industrial complex being its central part.