EU's 12th sanctions package tightens price cap compliance and tanker sales

The EU Council adopted its 12th package of sanctions against Russia on 18 December, including tighter compliance rules to support the oil price cap and curb circumvention. The Council says a stronger information-sharing mechanism will help identify vessels using deceptive practices, such as ship-to-ship transfers that hide a cargo's origin or destination and manipulation of AIS signals. The package also requires notification of tanker sales to any third country, aimed at second-hand vessels that could be used to evade the bans on Russian crude and oil products. It further bans imports of Russian liquefied propane after a 12-month transition and prohibits imports of Russian diamonds from 1 January 2024.

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