Brussels Considers Full Ban Despite G7 Uncertainty
The European Union is preparing to impose a full ban on maritime services for Russian oil tankers, even if G7 allies fail to reach a coordinated agreement. Valdis Dombrovskis said Brussels prefers a joint approach but is ready to move independently if necessary. Officials aim to approve the 20th sanctions package by 24 February, coinciding with the fourth anniversary of Russia’s invasion of Ukraine.
If implemented, the ban would override the G7’s existing oil price cap within EU jurisdiction, stopping European companies from servicing Russian tankers regardless of the price of Urals crude. The current cap is set at $44.10 per barrel. Dombrovskis emphasized that while alignment with the G7 is ideal, the EU will not hesitate to act alone to maintain pressure on Moscow.
Allies Divided and Ongoing Talks
It remains unclear which G7 members will follow the EU’s lead. United Kingdom, Canada, and Australia have acknowledged the proposal and are consulting with partners. Officials stress ongoing collaboration to target Russian energy revenues, a key part of the strategy. United States and Japan have not commented publicly.
Within the EU, concerns have also been raised. Greece, with its strong maritime industry, warned that a unilateral ban could boost competitors in India and China, strengthen Russia’s “shadow fleet,” and encourage ships to switch registries—a practice known as deflagging. Swedish Finance Minister Elisabeth Svantesson noted that while broader coordination is preferable, the EU must take necessary action even if some allies opt out.
Anti-Circumvention Tool Targets Kyrgyzstan
Another key measure in the sanctions package is the first-time activation of the EU’s Anti-Circumvention Tool. This tool aims to prevent EU-made machinery and radios from being rerouted to Russia through third countries.
Kyrgyzstan has come under scrutiny, as trade with the EU has surged from €263 million in 2021 to €2.5 billion in 2024, with over half of those exports being machinery and transport equipment that could potentially be diverted to Moscow for military use. Kyrgyzstan’s foreign ministry has not responded to requests for comment.
EU ambassadors will continue negotiations throughout the week to finalize the sanctions package by 24 February, though the timeline could extend if more time is needed to secure a comprehensive deal.
