"The European Union is considering imposing an outright maritime ban on services needed to ship Russian oil, such as insurance and transportation, as part of a new sanctions package marking four years of Russia's war."
"Russian oil revenue plummeted by 50 percent in January compared with the same month the previous year after tough new sanctions imposed by the U.S. Treasury on Russian oil majors Rosneft and Lukoil in October. The penalties forced Moscow to accept ever-steeper discounts of more than $20 per barrel for its oil."
"Inspired by the seizure last month by U.S. forces of the Marinera tanker after a weeks-long pursuit despite a Russian submarine escort, the French navy briefly captured another suspected Russian shadow fleet tanker, the Grinch, which had been traveling from the Russian Arctic port of Murmansk across the Mediterranean carrying 730,000 barrels of oil under the flag of Comoros."
The European Union is considering an outright maritime ban on services needed to ship Russian oil, including insurance and transportation, as part of a new sanctions package marking four years of Russia's war. The ban would replace the current oil price cap and enable 14 European nations to intercept a shadow fleet of tankers used to evade sanctions. Russian oil revenue fell 50 percent in January year-on-year after U.S. Treasury sanctions on Rosneft and Lukoil, forcing Moscow to accept discounts exceeding $20 per barrel. Shifts in buyers and enforcement actions risk further straining Russian finances and broader economic instability.
Read at The Washington Post
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