G7, EU Mull Ban on Russian Oil Maritime Services, but Experts Sceptical

G7, EU mull ban on Russian oil maritime services, but experts sceptical

If the ban goes through, Russia would likely have to expand its shadow fleet to transport crude oil instead.

G7 and EU Consider New Ban on Maritime Services to Hit Russian Oil Revenues

The Group of Seven (G7) nations and the European Union (EU) are in discussions to replace the existing price cap on Russian oil exports with a sweeping ban on maritime services, six sources with direct knowledge of the talks told Reuters on December 5. The move aims to significantly reduce the oil revenue that continues to fuel Russia’s war effort in Ukraine.Russia currently relies on Western-owned tankers and services—largely from EU countries …

'Grand gesture, but won't kill exports' — G7, EU mull ban on Russian oil maritime services

… price. Since September, the EU, Canada, and U.K., set the … Greece, Malta, and Cyprus. Since 2022, Russia has rerouted its oil exports to Asia … , particularly China and India. Reuters …