Greece and Malta have opposed the introduction of new European Union sanctions that propose replacing price caps on Russian oil with a complete ban on providing services necessary for transporting this fuel. This proposal is part of the 20th sanctions package against the Russian Federation. The main reason for the resistance from these countries is concerns about the impact of new restrictions on the European shipping industry and the potential rise in energy prices.
This is reported by Business • Media
Resistance to Oil Sanctions and the Role of Greece and Malta
It is worth noting that Greek and Maltese companies traditionally hold a significant share in the transportation of Russian oil. Both countries have previously blocked attempts to lower the established price ceiling on Russian oil raw materials, defending the interests of their own shipping companies. The European Union aims to reach a final agreement on the new sanctions package by the end of February.
Possible New Restrictions for Third Countries and Increased Control
European Commission spokesperson Paola Pinu emphasized that among the measures being considered is a complete ban on providing services for Russian tankers in cooperation with G7 countries. This is intended to make the existing sanctions against Moscow even more effective. According to Pinu, the EU has already revised its risk assessment for the stability of the oil market related to these changes. At the same time, for the first time, the bloc plans to impose restrictions on ports in third countries, including Georgia and Indonesia, due to their involvement in operations with Russian oil. If such an initiative is approved, European companies and citizens will be prohibited from cooperating with these ports.
“According to an iFact investigation, 19 vessels that may belong to the Russian shadow fleet entered Georgian ports between 2024 and 2026.”