Greece and Malta block new EU initiative on Russian oil

Greece and Malta have become the main obstacles to the European Union’s proposal to replace price caps on Russian oil with a ban on services needed to transport the fuel.

This is stated in the Bloomberg article.

Both countries expressed concern about the move at a meeting of EU ambassadors on Monday, where the bloc’s latest sanctions package was presented, according to sources familiar with the matter.

They expressed concerns that the transition could affect the European shipping industry and energy prices, the anonymous sources said.

Both countries also asked for clarification on the intention to impose sanctions on foreign ports that process Russian oil, as well as on strengthening oversight of ship sellers to reduce the number of ships replenishing Russia’s “shadow fleet.”

A Greek government spokesman declined to comment. Nestor Laviera, a spokesman for the Maltese government in Brussels, said the country was “engaging in technical discussions to ensure the implementation of the final outcome.”

As reported, the European Union is planning to further tighten sanctions against Russia. The bloc is seeking to impose restrictions on two ports in Georgia and Indonesia for operations with Russian oil.

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