Copyright © 2024 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

Denmark likely to block Russian tankers under new EU regulations

Denmark could start inspecting Russian oil tankers passing through its waters to ensure Russian oil shipments are below $60 per barrel and not carrying falsified paperwork or non-Western insurance.
A tanker in Russia. Credit: AP/Ritzau Scanpix
Denmark likely to block Russian tankers under new EU regulations

Denmark will allegedly begin inspecting and potentially blocking Russian oil tankers passing through Danish waters, the Financial Times reported on 15 Nov.

According to the report, this measure is part of a European Union effort to enforce a price cap on Russian oil exports and EU regulations on insuring tankers carrying Russian crude oil.

Reportedly, almost none of the Russian maritime oil shipments in October were below the $60 per barrel price cap. However, the price cap was instituted by the G7 group of nations and demanded that Western insurers only cover Russian oil shipments sold below $60 per barrel.

The Financial Times report states that the EU is concerned Russian tankers are violating regulations by frequently travelling with “falsified financial statements or non-Western insurance.”

Under the new proposed EU measures, Denmark would be allowed to inspect and block Russian tankers passing through the Danish straits. Because, as reported, “oil revenues are a critical plank of President Vladimir Putin’s war machine.”

“Russian crude earnings this year have boosted his ability to fund his armed forces at a time when Ukraine is increasingly concerned about the longevity of its own financial support from the West,” FT explained.

Read also:

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here



    Euromaidan Press

    We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!

    Related Posts