EU Considers Freezing Russian Oil Price Cap as Sanctioned Tankers Evade Seizure in UK Waters
By
Diana Slobodian
Crusty in the right places. Worth the chew.
Summary
The European Union is considering freezing the automatic adjustment mechanism for the price cap on Russian oil, while over 200 sanctioned Russian tankers have passed through UK waters without being seized. These developments underscore Western difficulties in effectively restricting Moscow's energy revenues amid the ongoing invasion of Ukraine.
Key quotes
· 3 pulledThe European Union is considering a temporary freeze on the automatic mechanism that adjusts the price cap on Russian oil.
At least 205 sanctioned vessels traversed the UK's exclusive economic zone since London announced new enforcement powers.
Both developments highlight the growing Western challenges in restricting Moscow's energy revenues during its full-scale invasion of Ukraine.
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