The European Union will deny technical assistance as well as insurance and brokering services to tankers of third countries carrying Russian oil sold above the G7-agreed price cap
MOSCOW (Pakistan Point News / Sputnik - 06th October, 2022) The European Union will deny technical assistance as well as insurance and brokering services to tankers of third countries carrying Russian oil sold above the G7-agreed price cap.
The EU announced the eighth package of sanctions against Russia on Thursday. It sets a framework for capping the price of Russian oil exports from December at a level coordinated by G7 allies.
The Council of the European Union published the regulation that says a third-country vessel carrying overpriced Russian oil should be denied "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 EU said that, while the ban on importing Russian seaborne crude oil remained in place, the price cap, once implemented, would allow EU operators to undertake and support the transport of Russian oil to third countries if the price remains under a pre-set cap.
