EU Introduces 12th Round of Sanctions Against Russia

The EU introduced a 12^th package of sanctions against Russia Dec. 18, including further crackdown on its energy sector.

• The package includes provisions to improve the monitoring of the sale of oil tankers to third countries to restrict the shadow fleet of vessels used by Russia to thwart the price cap.
• Measures also include more detailed attestation requirements secured by shipping companies to ensure the cargo is sold below the price cap.
• Russian president Vladimir Putin responded by extending retaliatory measures against the G7 price cap placed on its oil exports until the end of June 2024.
• In January, Russia banned domestic oil exporters and customs bodies from adhering to the price cap, Reuters said.
• Also Included in the provisions was a new import ban on Russian LPG.