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Latest EU Sanctions Package Aims to Thwart Russian STS Transfers

OIL PRODUCTS

European Union governments agreed on Wednesday on another package of sanctions against Russia over its invasion of Ukraine.

  • The sanctions were mainly aimed at third countries and companies from circumventing existing sanction measures, including commodity flows.
  • In a bid to stop ship-to-ship Russian oil and product transfers, the package bans access to EU ports for ships which engage in such transfers if there is reasonable cause to suspect the cargo loaded was of Russian origin.

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