EU Commission proposes full maritime services ban on Russian oil in 20th sanctions package

The European Commission has proposed a 20th sanctions package against Russia that would replace price-cap rules with a blanket ban on EU companies providing maritime services, such as insurance and shipping, to vessels carrying Russian oil, Euronews reports. The ban would depend on agreement at G7 level. The proposal would add 42 more vessels to the EU's shadow fleet blacklist, taking the total to 640, and extend service bans to Russian LNG tankers and icebreakers. It also targets 20 regional banks and cryptocurrency platforms. The package needs unanimous backing from all 27 member states. Commission President Ursula von der Leyen said Russia would only negotiate seriously "if it is pressured to do so".

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