EU clarifies measures to limit Russian oil for third countries

BRUSSELS, 6 Oct – PRIME. The European Union has banned the provision of services to ships flying the flag of third countries if they are seen transporting oil and oil products from Russia at a price exceeding the price “ceiling” that Western countries want to introduce unilaterally at the end of this year. document.

“If a vessel flying the flag of one of the third countries will transport Russian crude oil or oil products purchased at a price exceeding the price ceiling, then it should be prohibited to provide it with technical assistance, brokerage services, financing, financial assistance,” the document says.

The EU on Thursday introduced the eighth package of anti-Russian sanctions, which includes both new economic restrictions and expanded lists of personal sanctions. Among the economic sanctions is the introduction of a legislative framework for determining the “ceiling” of prices for sea transportation of Russian oil to third countries. It is planned that the price limit will be introduced on December 5 for oil and on February 5, 2023 for oil products.

The media also reported that the European Union does not plan to independently set a “ceiling” for Russian oil prices, it will use the level that the G7 countries will preliminarily agree on. At the same time, as the sources explained, the procedure for the EU to make a decision on the “ceiling” of oil prices assumes that “each time, to fix the price ceiling (in the EU), a mandate from the EU Council (unanimous approval of the decision by all countries of the union) will be required … that is, this means that any EU state can use a veto to set new price ceilings for Russian oil.”

The EC also promised to prepare instructions for the EU countries on the practical application of the mechanism for limiting prices for Russian oil.