Instead of price caps: EU and G7 may ban sea transportation of Russian oil
6.12.2025 - 10:03
The parties are negotiating to replace the cap on the price of Russian oil with a complete ban on its maritime transport.
This is reported by Reuters.
According to the sources of the publication, Russia currently exports more than a third of its oil – mainly to India and China – using foreign tankers. The other two-thirds are transported by sea.
Thus, the ban could significantly reduce trade volumes and force Russia to increase its shadow fleet instead of using tankers under the flags of Greece, Cyprus or Malta.
The publication also notes that the ban could be part of the next package of EU sanctions against Russia, scheduled for early 2026. The 27 EU countries would like to approve the ban together with a broader G7 agreement before proposing a ban as part of the package.
The sources also indicate that British and American officials are promoting this idea at technical meetings of the G7. However, any final US decision will depend on the pressure tactics that the administration of President Donald Trump chooses regarding the peace talks.
Read also: New risks in the Black Sea: how the market reacted to the attack on tankers carrying sanctioned oil
