EU plans to impose restrictions on 11 Russian ships in new sanction package.

The European Commission has proposed restrictions on 11 vessels that contribute to Russia's ability to wage its full-scale war against Ukraine.

Source: Bloomberg, as reported by European Pravda

Details: If member states agree to the proposed regulations, the ships would not be allowed to enter EU ports or anchorage zones, and their logistics operations would become more challenging as they would not be able to use European companies for a variety of services.

Four fuel tankers, two oil tankers, two gas storage facilities utilised in the Novatek project for the transshipment of liquefied gas on the Kamchatka Peninsula, and a cargo ship are among the vessels that will be subject to sanctions.

Among the ships is the tanker Andromeda Star, which was discovered to have invalid European insurance after it crashed in the Baltic Sea.

These proposals are part of the EU's efforts to curb Russia's ability to circumvent price caps on Russian oil through the use of a shadow fleet.

The draft, which has been studied by Bloomberg, states that insurance and technical support will be prohibited. Additionally, European providers will not be permitted to unload cargo between ships.

The European Commission suggested targeting multiple LNG projects and outlawing the transshipment of Russian LNG from the EU to third nations as part of the same set of penalties, which will be the EU's 14th package of sanctions.

The proposal for EU sanctions may be amended before it is ultimately adopted. It has to be approved by all 27 member states.

The media previously reported that the European Commission sent EU countries a draft proposal for a 14th package of sanctions against Russia. The proposal includes, among other things, restrictions on imports of liquefied natural gas (LNG) from Russia, although there are no plans for a full embargo.

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