Greece and Malta have become obstacle to EU’s new sanctions on Russian oil – Bloomberg

Bloomberg, citing sources, has reported that Greece and Malta have become the main obstacle to the EU's proposal to replace the price cap on Russian oil with a ban on services necessary for transporting the fuel.

Source: European Pravda, citing Bloomberg

Details: According to Bloomberg sources, the two southern European countries raised concerns about the move at a meeting of EU ambassadors on Monday, where the latest package of sanctions against Russia was presented.

They warned that such a change could affect Europe's shipping industry and energy prices.

Both countries also requested clarification on proposals to impose sanctions on foreign ports for handling Russian oil and to tighten oversight of ship sellers in order to reduce the number of vessels entering Moscow's fleet, the sources added.

A representative of the Greek government declined to comment. Nestor Laiviera, Malta's government representative in Brussels, said the country was engaged in technical discussions to ensure the final outcome is implementable.

Last week, the European Commission proposed replacing the current price cap on Russian oil sales with a ban on services required for its transportation.

The proposal is a key element of the EU's 20th sanctions package in response to Russia's full-scale invasion of Ukraine.

EU sanctions require the approval of all member states and may still change before adoption. The bloc aims to finalise the restrictive measures by the end of February.

Background:

• The publication of the European Commission's 20th sanctions package was delayed due to discussions over a proposal for a full ban on maritime services in EU ports for all vessels transporting Russian oil.
• France has pushed for the package to be particularly tough on Russia's shadow fleet.

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