EU's Russian oil price cap extended for a week as Greece blocks sanctions agreement
EU ambassadors kept the Russian oil cap at $44.10 for one week as Greece’s objection delayed a broader sanctions package, officials said.
- Ambassadors from 27 EU member states held last-ditch talks in Brussels on the eve of a Wednesday deadline threatening to weaken a key measure limiting Russian oil revenues. EU top diplomat Kaja Kallas said countries were 'quite close to a deal' after Monday's foreign ministers meeting.
- The 21st sanctions package has faced resistance since its proposal last month as various countries sought to water down different provisions, while Brussels aimed to prevent the oil price cap from jumping from $44 due to Middle East-driven price surges benefiting the Kremlin.
- Bulgaria resisted placing Russian Orthodox Patriarch Kirill on the blacklist while Germany objected to banning Alaskan Pollock imports from Russia; diplomats also flagged efforts to tone down a sweeping visa ban on Russians involved in the war.
- If no agreement is found by Wednesday, the EU could be forced to allow the oil price cap to shoot up from $44 to align with international prices, undercutting the bloc's strategy to limit Russian oil revenues. Other sticking points remained unresolved.
- EU chief Ursula von der Leyen is visiting Kyiv Wednesday for talks with President Volodymyr Zelensky amid the critical sanctions deadline, while Trump said a bipartisan Russia sanctions bill championed by the late Senator Lindsey Graham has a good chance of passing Congress.
65 Articles
65 Articles
While other Western shipping companies have withdrawn from Russia's energy exports business, George Prokopiou has earned billions. A new EU sanctions package could ruin one of his companies. The Greek government wants to prevent this.
'Shameless': Greece and LNG remain roadblock in new Russia sanctions
Greece has thrown a spanner into the works of fresh EU sanctions by demanding an exemption to a full ban on Russian LNG. Member states are aghast at the request, with one diplomat calling it "shameless".
While Europe wants to tighten up on Moscow, Greece has just blocked the new sanctions to defend the interests of one of its maritime giants, active in the transport of Russian hydrocarbons. ...
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Greece has thrown the European Union’s proposed 21st sanctions package against Russia into limbo, demanding exemptions for a domestic shipping company whose specialized Arctic liquefied natural gas carriers could become stranded assets under new restrictions aimed at tightening pressure on Moscow’s energy exports.
Greece Has Blocked New EU Sanctions Against Russia to Protect Magnate George Prokopiou's Oil Company
Greece has blocked a new round of EU sanctions against Russian gas to protect Dynagas, the shipping company belonging to Greek magnate George Prokopiou, specializing in the transport of Russian goods from a liquefied natural gas (LNG) facility in the Arctic region, according to Financial Times.
EU sanctions on Russia meet resistance from Greek shipping sector
The European Union’s attempt to tighten restrictions on Russian LNG shipping has run into resistance from Greece, opening a new dispute over whether sanctions are weakening Moscow or simply driving valuable vessels and maritime business beyond European control. Athens is withholding its support for the bloc’s 21st sanctions package against Russia, with the Financial Times reporting that Greece raised […]
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