The European Union has authorized member states to seize and sell Russian oil from tankers that violate sanctions, with proceeds kept from Russian entities, according to reports. The move is part of efforts to enforce sanctions over Russia's actions in Ukraine.
The European Union has authorized the seizure and sale of Russian oil from tankers that violate sanctions, allowing member states to confiscate the cargo and keep proceeds from Russian entities. The decision is a new enforcement tool in the EU's sanctions regime against Russia, which has already imposed 21 sanctions packages (The Zioneer, July 23). As The Zioneer has reported, the US has also signaled possible reimposition of sanctions on Russian oil shipments. The authorization, reported as of Monday morning, is based on a single source and remains unverified.
- DevelopingEU approves 21st sanctions package against Russia after Greece lifts veto
- DevelopingUS may soon reimpose sanctions on Russian oil shipments, Trump signals
- DevelopingRussia's key Black Sea oil terminal halts tanker operations after Ukrainian air strikes
- DevelopingRussia reportedly allows refineries to lower fuel quality as Ukrainian drone strikes double
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