EU Targets Russian Oil Transfers At Sea in Sanctions Enforcement
- Vessels seen to breach sanctions may face ban from EU ports
- EU says ‘deceptive practices’ are being used to flout rules
Oil tankers anchored in the waters off Port-de-Bouc, France.
Photographer: Jeremy Suyker/BloombergThis article is for subscribers only.
The European Union proposed prohibiting access to its ports for vessels that attempt to circumvent sanctions on Russian oil as it seeks to deter transport of its crude and products below the price caps set by the Group of Seven nations.
The measure is part of a broader package of sanctions on Russia following the country’s invasion of Ukraine, according to EU documents seen by Bloomberg. With price caps on Russian crude and petroleum products already in place, the focus is now on closing loopholes and more effective enforcement of the restrictions.