EU Unlikely to Impose Full Russian Oil Ban in 21st Sanctions Package – Politico
The European Union is not expected to include a complete ban on Russian oil or restrictions on maritime services in its upcoming 21st sanctions package, according to Politico citing EU diplomats. Instead, the bloc intends to freeze the existing oil price cap.
The European Union is unlikely to include a full ban on Russian crude oil or restrictions on maritime transport services in its forthcoming 21st sanctions package, Politico reports, citing EU diplomats.
Rather than a complete prohibition, the bloc plans to freeze the current price cap on Russian oil, maintaining the existing mechanism without further tightening. The decision reflects ongoing divisions among member states over the economic impact of more aggressive energy sanctions.
Source: MarketTwits