It is stated that in the sixth sanction package of the European Union against Russia, some articles can be eased, but the union aims to protect the article that prohibits services such as insurance for ships carrying Russian oil.
While the European Union is expected to ease the sanctions to be applied to Russian oil after internal discussions, it is stated that the European Union aims to protect a critical article that aims to disrupt Moscow’s oil exports globally.
According to the news of Bloomberg, the union aims to prevent the ships within the union from carrying Russian oil to third countries by preventing the provision of insurance services to ships that will carry Russian oil.
According to the negotiations between the G7 countries, Greece, which is one of the countries with the largest shipping fleets in the world, insisted on removing this article from the EU’s sixth sanction package.
It is estimated that the ban on the transportation of Russian oil by Europe will seriously damage Russia’s oil exports, which are one of the most important reserve money sources.
A ban, which also covers insurance and other services to shipping companies, is expected to pose a significant barrier to Russian oil exports. Maritime shipping companies resort to ways such as protection and compensation in case of problems such as oil spills.
For these, insurance policies are purchased from a total of 80 reinsurance companies, including the world’s 20 largest companies. This means that they cannot ignore EU law.
Hungary and Bulgaria object to sanctions
While EU countries are preparing to spend this week discussing the sixth package of sanctions, diplomats will try to find a common way to overcome Hungary’s objections to the ban on Russian oil. No results were obtained from the talks held this weekend.
In the first draft, which was previously on the agenda, the EU proposed to ban all shipments of Russian crude oil and petroleum products, including ship-to-ship transfers.
On the other hand, the EU’s managerial staff is considering a draft law that would ban European companies transporting Russian oil to third countries from providing services, including insurance.
Although this article is expected to be included in the draft to be submitted despite the objections of some member states, it is stated that the negotiations between the member states continue and the measures may change until they are approved by all 27 countries.
