Several countries oppose Brussels’ proposed full ban on maritime services for Russian oil tankers
EU ambassadors reportedly failed to reach an agreement on a 20th sanctions package against Russia during a meeting on Friday, Reuters has reported, citing diplomatic sources.
The proposed measures, which Brussels said it hopes to finalize by the fourth anniversary of the Ukraine conflict’s escalation on Monday, face opposition from several member states over key provisions.
The main sticking point is a proposed full ban on maritime services for Russian oil tankers which would scrap the existing price cap system, prohibiting all EU companies from providing insurance, banking, shipping, or port access to any vessel carrying Russian crude.
Greece and Malta, two countries with powerful maritime industries, have reportedly emerged as the main opponents of the new restriction, warning that a unilateral EU ban without full G7 backing would cripple their economies and push shipping business toward competitors in India and China.
They have also opposed possible restrictions on the port of Karimun in Indonesia. Italy and Hungary have been reluctant to support sanctions against the port of Kulevi in Georgia. Madrid and Rome have objected to placing sanctions on one of Cuba’s banks.
Furthermore, Hungary and Slovakia have placed a “general reserve” on the entire package, leveraging their veto power to secure assurances over Russian oil supplies via the damaged Druzhba pipeline which have been halted since January.
Reuters reported that EU diplomats could reconvene over the weekend to discuss the proposed sanctions again, ahead of Monday’s Foreign Affairs Council meeting, where ministers hope to formally adopt the package.
Moscow has repeatedly denounced the EU’s sanctions as illegitimate and counterproductive, saying that they have had little effect on Russia’s economy, while decimating Europe’s.
A number of European officials have also consistently opposed the restrictions, with Slovak Prime Minister Robert Fico arguing that the EU is “only hurting itself” with the sanctions, describing previous packages as bringing “no benefit to member states.”
