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Developing Coverage Does Not Suggest Denmark Will Police Russian Oil Tankers in Strait

OIL

Context on EU sanctions on Russian oil cargoes headlines Wednesday:

  • “Denmark could block Russian oil tankers from reaching markets – FT” First reports of the day came out from the FT that the EU was looking at having Denmark patrol its strait for Russian vessels not covered by western insurance in an effort to enforce sanctions on Russian oil cap breaches. The FT cited three unidentified sources.
  • Russian news outlets reported no knowledge from Russian officials about plans but that the Kremlin said “Everybody should be warned in advance in this regard about the need to comply with all the rules of international mercantile shipping,"
  • “EU sanctions proposal makes no reference to inspections of Russian oil tankers-EU diplomats – Reuters” Reuters then ran headlines this afternoon London time that EU officials were not aware of any Danish measures to enforce sanctions on behalf of the EU. “We have seen nothing about it in the Commission proposal,” one EU diplomat familiar with the Commission text said and two others confirmed they found no such reference in the proposal.
  • Further reports out of Russia said - “I’ll just remind you... that all vessels, including Russian ones, have the right to free passage through the Baltic Straits,” Maria Zakharova, a spokeswoman for the Russian foreign ministry, told reporters.
  • Reuters reported after today’s EU sanctions meeting, officials had proposed “To tighten the implementation of the oil price cap, set by the G7 at $60 per barrel of crude, the proposal calls for shipping companies to detail shipping and insurance costs for the Russian oil cargoes they carry.”
  • At present, there is nothing other than original FT headlines this morning about the Denmark policing situation while the latest news coverage shows little in the way of tangible EU measures to stop Russian oil flows. "EU ambassadors are set to discuss the package for the first time on Friday, two EU diplomats said. It’s unclear when they will green-light it, but the hope is to do it before the European Council in mid-December or by the end of the year at the latest." Poltico reports.

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