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EU to expand sanctions against Russian oil shipments

EU foreign ministers are due to approve a new package of sanctions targeting the transport of Russian oil and petroleum products next week, Kaja Kallas said.

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Oil tanker sailing at sea
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EU foreign ministers are due to approve a further package of sanctions linked to efforts to counter the transport of oil and petroleum products from Russia next week. EU foreign policy chief Kaja Kallas announced this on X.

According to her, the extension will cover banks, buyers and companies that support Russia's shadow fleet. In the EU, the shadow fleet is understood to mean tankers that carry cargo from Russia in circumvention of established restrictions and rules.

"On Monday, the EU Foreign Affairs Council at the level of foreign ministers should approve new anti-Russian sanctions," she wrote.

Tanker inspected in the Mediterranean

In the same statement, Kallas said that on Friday, 13 November, forces of the EU naval operation EUNAVFOR MED IRINI boarded the vessel MV MIDAG in the Mediterranean Sea. The reason was the tanker's link to Russia and its discovery sailing under a foreign flag.

Context on the oil market

Earlier reports noted that, against the backdrop of improving oil supplies from Persian Gulf countries, discounts on Russian crude rose to their highest level since April 2023. Besides increased market supply, experts cite high military and legal risks accompanying supplies from Russia as one of the main reasons for this trend.

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