LONDON: The European Union and G7 countries are considering the possibility of replacing the price cap on Russian oil with a complete ban...
LONDON: The European Union and G7 countries are considering the possibility of replacing the price cap on Russian oil with a complete ban on Western companies' maritime services for its transportation, Reuters reported, citing six sources.
Such a ban could be announced as part of the next EU sanctions package scheduled for adoption in early 2026, as well as the corresponding G7 measures, according to the report.
Representatives of the US and UK are actively promoting this idea at G7 technical meetings, sources told the agency. That said, four Reuters sources said that US President Donald Trump's final position on the issue will depend on the success of his peacekeeping efforts to end the conflict in Ukraine.
-News Feed
COMMENTS