The European Union proposes to ban access to its ports for ships trying to circumvent sanctions against Russian oil.
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Bloomberg writes about this on May 8, citing documents that are at the disposal of the editors.
With price caps on Russian oil and petroleum products already in place, the focus now is on closing loopholes and better enforcing the caps.
In particular, the EU executive cited “a sharp increase in fraudulent practices and associated environmental risks” by courts trying to circumvent the G7 price ceiling and a ban on Russian oil imports to the EU.
The European Union is proposing to ban ships that are suspected or exposed of violating sanctions by transferring oil from one ship to another from banning the event at European ports and locks. The so-called ship-to-ship transfer of oil has become key in bringing Russian oil to the European market after the European Union banned the sea transport of Russian oil in early December.
Source: Racurs
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