Politico: EU unlikely to introduce full ban on Russian oil

The European Union is unlikely to include a full ban on Russian oil imports or restrictions on maritime services related to its transportation in its 21st sanctions package, Politico reports, citing EU diplomatic sources.

The outlet said that in drafting the new sanctions package, the main focus is on adjusting the existing price-cap mechanism on Russian oil, with discussions centring on maintaining the current price ceiling.

According to sources, proposals for a full import ban on Russian oil and limits on maritime services have not received sufficient support among EU member states and are therefore unlikely to be included in the new package.

In 2025, the EU introduced a mechanism under which the price cap on Russian Urals crude is reviewed every six months and set 15% below the global market average.

The current cap is due for review in the summer.

The restrictions prohibit European companies from providing services such as insurance and transport for oil sold above the threshold.

By Bakhtiyar Abbasov