Sweden Proposes Sanctions Against Moscow's Oil Fleet
The new EU sanctions package under discussion focuses on combating the circumvention of existing sanctions, especially in the maritime sector.
Sweden has proposed to include a ban on imports of liquefied natural gas from Russia and restrictions on the so-called shadow fleet that transports Russian oil to circumvent existing restrictions.
This was stated by the Minister of Foreign Affairs of Sweden Tobias Bilstrom.
What measures are envisaged by the sanctions against Russian oil and its fleet?
Sanctions against Russian oil include a price cap imposed by the G7, the EU and Australia, which prohibits the provision of Western maritime services for the transportation of oil with a price above $60 per barrel. In particular, these services include insurance, labeling and transportation. Since October, the US has also tightened these restrictions by adding Sovcomflot, a major Russian shipping company, to the sanctions list.
When will the new EU sanctions package be adopted?
Currently, the 14th EU sanctions package is at an early stage of discussion and will not be adopted during the next meeting of EU foreign ministers in Luxembourg. The process of adopting new sanctions may take some time, as it requires the consent of all EU member states.
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