European Union Proposes Joint Action Against Putin’s “Shadow Fleet”
The European Union has proposed joint action with the United States against Russia’s “shadow fleet,” a group of tankers believed to be controlled by Moscow. The move comes as part of the EU’s 20th sanctions package, which is set to coincide with the anniversary of Russia’s invasion of Ukraine.
EU Considers Price Cap on Russian Oil
The EU is considering imposing a price cap on Russian oil, which would limit the revenue earned by Moscow from its energy sector. This move is seen as a way to increase pressure on Putin’s government and reduce its ability to fund its military activities.
Consultations Underway with Group of Seven Countries
The EU has already begun consulting with partner countries in the Group of Seven (G-7) about the proposal, according to several European officials and diplomats. A joint ban on maritime services could have a significant impact on Russia’s energy sector, as it would prevent companies from providing financial services for oil deliveries above a certain price threshold.
Price Cap Already Implemented by G-7 Countries
In late 2022, the G-7 countries introduced a price cap of $60 per barrel on Russian oil. European and American insurance companies, which control around 90% of the global marine insurance market, were banned from providing financial services for oil deliveries above this threshold.
EU and UK Consider Detaining Tankers
Meanwhile, The Guardian reports that British military officials are discussing options for detaining tankers linked to Russia, which could escalate tensions with Moscow. Sources within the UK Ministry of Defence confirmed that naval variants for detaining a problematic tanker had been discussed with NATO allies.
US Seizes Oil Tanker on UK Coast
In a separate development, the US has seized an oil tanker on the UK coast, which is believed to be part of Russia’s “shadow fleet.” The move has sparked calls for the UK to take similar action to protect its coastline.
Potential Consequences of Price Cap
If the price cap is implemented in full, it would effectively render the EU’s current price cap irrelevant. Companies would be prohibited from providing services to all Russian ships, regardless of whether they are selling oil above or below a certain threshold.
Benefits of Joint Action
Finnish and Swedish officials argue that such joint action has several benefits, including the potential to significantly increase costs for Russia’s energy sector, make it easier for European operators to implement sanctions, and limit the use of fake documents by Moscow to circumvent sanctions.
Challenges Ahead
However, implementing a price cap could prove challenging, particularly if other G-7 countries do not support the initiative. A decision on this front requires unanimous agreement among all 27 EU member states.
Sanctions “Under Discussion”
Brussels is also working to coordinate its actions with Washington, which imposed sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, in October following a failed meeting between Presidents Donald Trump and Vladimir Putin. The US sanctions have an extraterritorial effect, forcing Moscow to sell its Urals crude at a discount. A potential ban on maritime services could deal another blow to Russia’s energy sector.
Trump Administration Expresses Reservations
Despite the potential benefits of joint action, the Trump administration has expressed reservations about changes to the price cap. Last year, it was the only G-7 country that refused to support a change in the price cap.
Original Article: ЕС с ДЯВОЛСКО предложение към Тръмп!: Фон дер Лайен иска обединяване на Европа и САЩ за унищожаване на “сенчестия флот” на Путин! (ВИДЕО) – Сигурност в новините — Safenews (Bulgarian) | View English Translation