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EU Is Unable to Reach Proposed Twentieth Sanctions Package on Russia
(MENAFN) EU ambassadors were reportedly unable to reach consensus on a proposed 20th sanctions package targeting Russia during a recent meeting, according to reports citing diplomatic sources.
The measures, which Brussels hopes to finalize ahead of the fourth anniversary of the escalation in Ukraine on Monday, are encountering resistance from several member states due to key provisions.
A central point of contention is a suggested complete ban on maritime services for Russian oil tankers. This would eliminate the current price cap framework, preventing all EU companies from offering insurance, banking, shipping, or port access to vessels transporting Russian crude.
Greece and Malta, both with significant maritime sectors, have emerged as leading opponents of the plan. They have warned that a unilateral EU ban, implemented without full backing from the G7, could severely damage their economies and redirect shipping business to competitors in India and China.
The measures, which Brussels hopes to finalize ahead of the fourth anniversary of the escalation in Ukraine on Monday, are encountering resistance from several member states due to key provisions.
A central point of contention is a suggested complete ban on maritime services for Russian oil tankers. This would eliminate the current price cap framework, preventing all EU companies from offering insurance, banking, shipping, or port access to vessels transporting Russian crude.
Greece and Malta, both with significant maritime sectors, have emerged as leading opponents of the plan. They have warned that a unilateral EU ban, implemented without full backing from the G7, could severely damage their economies and redirect shipping business to competitors in India and China.
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