The European Union has recently announced the implementation of its 12th package of sanctions against Russia, which notably includes measures targeting tankers in an effort to further restrict the country's economic activities.
Notification rules
One of the key components of these new sanctions is the introduction of notification rules pertaining to the sale of tankers to any third country. The objective behind this measure is to enhance transparency surrounding the sale and export of tankers, particularly in the case of secondhand carriers that could potentially be utilized to circumvent the existing import ban on Russian crude or petroleum products, as well as the G7 price cap.
Compliance Measures
In addition to the notification rules, the European Council is also set to enforce tighter compliance measures to support the implementation of the oil price cap and crack down on any attempts at circumvention. This will involve the strengthening of an information sharing mechanism aimed at facilitating the better identification of vessels and entities engaged in deceptive practices. Such practices include ship-to-ship transfers designed to conceal the origin or destination of cargo, as well as AIS manipulations, all in the context of transporting Russian crude oil and petroleum products.
Josep Borrell, the EU’s High Representative for Foreign Affairs and Security Policy, emphasized the significance of these new measures, stating, “With this 12th package, we are putting forward a robust set of new listings and economic measures which will further weaken Russia’s war machine. Our message is clear, as I already stated when I chaired the informal Foreign Affairs Council in Kyiv: we remain steadfast in our commitment to Ukraine and will continue to support its fight for freedom and sovereignty.”
EU's Commitment and Aims
These latest sanctions reflect the EU’s ongoing commitment to supporting Ukraine and its efforts to safeguard its sovereignty. By targeting the sale and export of tankers, as well as implementing stricter compliance rules and information sharing mechanisms, the EU aims to significantly impede Russia’s economic activities and further reinforce its support for Ukraine.
EU's Commitment to Supporting Ukraine
The EU’s continued determination to stand by Ukraine and counter Russian aggression is underscored by these latest sanctions, which are designed to send a clear message of solidarity and support for Ukraine's fight for freedom and sovereignty. As the situation continues to evolve, the EU remains resolute in its efforts to uphold stability and security in the region.
(This article is sourced from Splash247.com and curated by Thetransporteronline24)
