The European Union, within the framework of the 20th package of sanctions against Russia, is considering replacing the ceiling price for Russian oil with a complete ban on the provision of maritime services for its transportation.
This was reported by Bloomberg, citing officials familiar with the discussions within the bloc.
According to the journalists' interlocutors, if approved by EU member states, European companies may be prohibited from providing insurance, transportation, and other services necessary for the transportation of Russian oil, regardless of its price.
A complete ban is expected to significantly tighten restrictions imposed against Russian oil exports and make it easier to enforce sanctions.
The price ceiling for Russian crude oil is set to fall to $44.10 per barrel from February 1. The mechanism is reviewed every six months and stipulates that the price ceiling is set 15% below the average market price of Urals oil.
EU countries have already received preliminary information about the possible content of the new sanctions package – the 20th since Russia's full-scale invasion of Ukraine in 2022. The European Union plans to adopt it by the end of next month.
In addition, in the new package of anti-Russian sanctions, the EU is preparing additional restrictions against Russian banks, oil companies, cryptocurrency services and financial institutions in third countries that help circumvent sanctions. The restrictions will also cover more vessels of the shadow fleet.
On January 28, a top EU diplomat told Sospilny that the European Commission could present the 20th package of sanctions against Russia as early as next week. The exact content of the sanctions package is currently unknown. At the same time, another diplomat suggested that it could include restrictions on Russian oil and maritime services.