The EU considers prohibiting access to ports for vessels transporting Russian oil above the price caps

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The EU proposed prohibiting access to ports for vessels that attempt to circumvent sanctions on Russian oil, transporting the oil with prices above the price caps, Bloomberg writes, referring to its sources.

The outlet writes that the 11th package of EU sanctions on Russia, currently being negotiated, will reportedly focus on closing loopholes in the restrictions. As part of the planned sanctions package, the EU also proposed targeting vessels that switch off navigation systems.

As was reported, the Russian crude oil exports from Black Sea ports in March 2023 set a record of 5,565,874 tons. That’s despite the fact that March became the first month when no tankers with Russian crude oil came directly to the ports of EU countries from the Black Sea.

Russian Black Sea oil exports reached a new record in March, with tankers going to Asia

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