The European Union does not plan to include a complete ban on Russian oil and restrictions on the provision of maritime services related to its transportation in the 21st package of sanctions, Politico reported, citing EU diplomats, Focus writes.
In preparing the new package of restrictions, the main attention is paid to adjusting the current mechanism for limiting the prices of Russian oil. In particular, the EU countries are discussing the possibility of maintaining the current level of the ceiling on oil prices. At the same time, the proposals for a complete ban on Russian fuel and a ban on maritime services do not receive sufficient support among European countries, the publication states.
In 2025, the EU introduced a mechanism ensuring that every six months the price ceiling for Russian oil of the "Ural" variety is automatically set at 15% below the average market price. The current ceiling is due to be reviewed later in the summer. The restrictions prohibit European companies from providing services such as insurance and oil transportation, the price of which exceeds the threshold value.
Bloomberg reported in late May that the EU is considering the possibility of temporarily freezing the ceiling for Russian oil against the backdrop of rising world prices due to the conflict in the Middle East. The current ceiling is $44.10 per barrel. However, due to the rise in oil prices, linked in particular to the de facto closure of the Strait of Hormuz, the next review could lead to an increase in the ceiling to $65 per barrel.