Brussels Considers Independent Ban
The European Union is prepared to impose a full ban on maritime services for Russian oil tankers even if G7 nations fail to reach a joint agreement, Valdis Dombrovskis said. The EU aims to approve its 20th sanctions package by 24 February, marking four years since Russia’s full-scale invasion of Ukraine. If enacted, the ban would override the G7 price cap on Russian oil within the EU, preventing European companies from servicing Russian tankers regardless of the Urals crude price, which currently sits at $44.10 per barrel. Dombrovskis emphasized that coordination with the G7 is preferable, but the EU will not hesitate to act alone if necessary.
Allies Split on Strategy
It remains unclear how many G7 members are willing to mirror the EU’s approach. United Kingdom, Canada, and Australia confirmed they are aware of the EU proposal and continue discussions with partners to maintain pressure on Russia, particularly targeting energy revenues. The United States and Japan have not issued comments. Within the EU, Greece has raised concerns that the ban could strengthen Russia’s “shadow fleet,” encourage deflagging, and boost competitors in India and China, potentially complicating enforcement.
New Anti-Circumvention Measures Spotlight Kyrgyzstan
The sanctions package also introduces the EU’s Anti-Circumvention Tool for the first time, aimed at limiting exports of sensitive EU-made equipment — including CNC machines and radios — to countries likely to reroute them to Russia. Kyrgyzstan has drawn particular scrutiny, with trade from the EU surging from €263 million in 2021 to €2.5 billion in 2024, much of it machinery and transport equipment that could be repurposed for military use. The Kyrgyz foreign ministry did not respond to requests for comment. EU ambassadors continue negotiations this week to finalize the sanctions, though the deadline of 24 February could shift if more time is needed.
