Full EU Ban on Russian Oil Shipping Services Requires Global G7 Approval

Full EU Ban on Russian Oil Shipping Services Requires Global G7 Approval

The European Union has to coordinate its plans to impose a full ban on maritime services for Russian crude oil with the G7 group of the world’s most advanced economies, David O’Sullivan, the EU Sanctions Envoy, said on Thursday.  Early this month, the European Commission proposed in its planned 20th package of sanctions against Russia a full maritime services ban for Russian crude oil, which is expected to “slash further Russia's energy revenues…

EU pushes harder on Russian oil as Moscow fires back

(By Oil & Gas 360) – The European Union is weighing a plan to permanently ban Russian oil imports and to impose a full ban on providing shipping and related services for Russian oil, escalating its efforts to tighten pressure on Moscow. But turning that proposal into reality would likely require coordination beyond Brussels, including backing from G7 partners that play a central role in global maritime insurance and shipping finance. The move ref

EU Seeks G7 Coordination on Maritime Services Ban on Russian Seaborne Oil

The European Union needs to coordinate its plan to impose a full maritime services ban on Russia's seaborne crude oil exports with other G7 countries before pushing ahead with the measure, the EU's sanctions envoy said on Thursday.

EU Eyes Russia Oil Services Ban, Seeks G7 Coordination

The European Union must align its plan to impose a complete ban on Russia’s seaborne crude oil exports with other G7 nations before moving forward, the EU sanctions envoy said on Thursday. Coordination with G7 Needed The European Commission proposed a sweeping ban on any services that support Russia’s seaborne crude oil exports on February […] The post EU Eyes Russia Oil Services Ban, Seeks G7 Coordination appeared first on StratNews Global.