The EU and G7 nations are readying a total prohibition on Western tanker conveyance of Russian oil.
The European Union and the Group of Seven are intending to enact a comprehensive embargo on the shipping of Russian petroleum utilizing Western vessels.
This information surfaced from a news story by Reuters, referencing half a dozen sources.
“Russia ships out over a third of its petroleum via Western tankers, mostly destined for India and China, employing Western shipping firms. The prohibition will halt this commerce, largely executed through the fleets of EU member states, such as Greece, Cyprus, and Malta,” the report indicates.
The other two-thirds of Russia’s petroleum exports are shipped by a multitude of tankers functioning outside of Western monitoring and maritime regulations, known as the “shadow fleet.” Russia will be required to enlarge this fleet if the G7 and EU enforce a shipping embargo, Reuters observes.
It is important to highlight that currently it is uncertain if this concept is backed by the United States within the G7, or solely by European nations.
According to the Reuters article, this is a European proposal aiming to incorporate it within the forthcoming EU sanctions bundle targeting Russia.
