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European Council sanctions vessels transporting Russian oil at price above price cap

byOrysia Hrudka
15/10/2022
1 minute read
European Council sanctions vessels transporting Russian oil at price above price cap

The European Council decided that in event that a vessel under the flag of a third country has transported Russian crude oil or petroleum products purchased at a price above the price cap, it should be prohibited to provide technical assistance, brokering services, financing or financial assistance, including insurance, related to any transport in the future by that vessel of crude oil or petroleum products. The Council also decided to introduce further restrictive measures as well as clarifications to existing measures.

The candidate countries North Macedonia, Montenegro, Albania and Ukraine, the potential candidate country Bosnia and Herzegovina, and the EFTA countries Iceland, Liechtenstein and Norway, members of the European Economic Area, align themselves with this Council Decision. The European Union takes note of this commitment and welcomes it.

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