The European Union intends to scrap the price cap on Russian oil, replacing it in the 20th sanctions package with a complete ban on providing Russia with maritime oil transportation services, APA reports citing Bloomberg.
The ban will include the provision of financial, legal, insurance, and other services to any shippers of Russian oil, regardless of its price. The agency claims that this proposal "has received the support of EU countries," which adopt sanctions packages by unanimity.
In addition, the 20th sanctions package will include new restrictions against Russian banks and oil companies, as well as restrictions against financial institutions and industrial companies in third countries that Brussels suspects of supporting Russia's efforts to overcome the sanctions blockade.
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