In the 20th sanctions package recently adopted by the European Union, there is no complete ban on providing maritime services for vessels carrying 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 the sanctions policy and is planned to be discussed within the framework of the “Group of Seven” (G7).
This is reported by Kyiv24
European Commission clarifies reasons for postponing the ban
An anonymous European Commission official emphasized that implementing such a ban could make the sanctions policy more effective and transparent, as well as simplify the mechanisms for its application. The goal of this step is to reduce Russia’s income from the export of crude oil by sea, as well as to decrease the volumes of its supplies to the global market, which are still carried out with the involvement of the services of G7 coalition countries and the Price Cap Coalition.
“Such a transition will make our policy more effective, transparent, and easier to implement to reduce Russia’s income and the volumes of maritime crude oil exports. The aim of this measure, to be clear, compared to the price cap mechanism (which is planned to be abandoned – ed.), is to reduce the volumes that Russia can supply to the market. Part of these volumes is still supplied using the services of G7 coalition countries and the Price Cap Coalition,” the official noted.
According to the official, there is a general understanding within the G7 of the necessity of such an approach; however, the implementation of the restriction is currently hindered by the energy crisis arising from the war in the Middle East. He emphasized that now is not the best time to impose a complete ban on maritime services, as this requires both coordination of actions within the G7 and favorable market conditions.
Possibility of the EU making a decision without the agreement 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 the full support of 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 exclude the possibility of actions by the EU independently.
On April 23, the EU Council unanimously approved changes to the EU’s multiannual budget, which include a loan of 90 billion euros for 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.