Free Trial

EU Proposed Russian Sanctions to Target Oil Tankers

ENERGY

The European Commission is expected to propose sanctions on ships flouting the G7 oil price cap on Russia, as well as vessels delivering North Korean military equipment to Russia, Reuters said.

  • The EC is finalising its proposal for a 14th package of sanctions against Moscow.
  • The oil related sanctions will target the “shadow fleet” moving oil at prices above the G7 price cap.
  • Around 40 companies are expected to be added to the sanctions list, Reuters said. Most of these are linked to procuring military equipment for Russia and are not all shadow fleet providers.
  • The third country companies are based in the UAE, Kyrgyzstan, Turkey, and China.
108 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The European Commission is expected to propose sanctions on ships flouting the G7 oil price cap on Russia, as well as vessels delivering North Korean military equipment to Russia, Reuters said.

  • The EC is finalising its proposal for a 14th package of sanctions against Moscow.
  • The oil related sanctions will target the “shadow fleet” moving oil at prices above the G7 price cap.
  • Around 40 companies are expected to be added to the sanctions list, Reuters said. Most of these are linked to procuring military equipment for Russia and are not all shadow fleet providers.
  • The third country companies are based in the UAE, Kyrgyzstan, Turkey, and China.