EU states divided on Russian oil tanker ban – Reuters

Must read

Save More Than 50% off the Price of Two Powerful 6-in-1 Charging Cables

Disclosure: Our goal is to feature products and services that we think you'll...

‘I Want a Free Month’: Thousands of Customers Furious at AT&T After Widespread Outages

AT&T suffered mass outages across the U.S. on Thursday with many unable to use their devices to...

Beware the Temptation of Dishonesty — How One Lie Could Sink Your Business

Opinions expressed by Entrepreneur contributors are their own. Many promising entrepreneurs...

Want to Start a Billion-Dollar Business? Look to These Two Industries, Which Have the Most Unicorn Growth

Cybersecurity and artificial intelligence stood out last year as the best-performing industries for unicorns or billion-dollar startups.The...

Brussels has reportedly softened restrictions amid concerns raised by Mediterranean members

EU states remain divided about the possibility of selling oil tankers to Russia, Reuters reported on Monday. The bloc’s diplomats are seeking to compromise on a long-debated 12th package of sanctions on Moscow.

The European Commission had previously proposed prohibiting the sale of old tankers to Russian entities and barring EU firms from using them to curb any attempts to get around the G7 oil price cap.

The relevant clause has been dropped, an unnamed source told the news agency, adding that Mediterranean states, home to strong shipping companies and services, raised concerns that the measure could put them at a competitive disadvantage. According to the latest draft, shipping companies need only to “report” such sales.

The 12th package of EU sanctions against Russia is expected to prohibit the sale of certain chemicals, lithium batteries, thermostats, and motors for drones in addition to machine tools and machinery parts that can be used to produce weapons – so-called “dual use” items.

The new penalties also include a complete ban on selling Russian diamonds and jewelry starting January 1, 2024. Up to 120 legal entities and individuals may become subject to restrictions.

Member states are also still reportedly negotiating transition times for import bans on some metal products, such as steel slabs and iron.

For more stories on economy & finance visit RT’s business section

More articles

Latest article

Save More Than 50% off the Price of Two Powerful 6-in-1 Charging Cables

Disclosure: Our goal is to feature products and services that we think you'll...

‘I Want a Free Month’: Thousands of Customers Furious at AT&T After Widespread Outages

AT&T suffered mass outages across the U.S. on Thursday with many unable to use their devices to...

Beware the Temptation of Dishonesty — How One Lie Could Sink Your Business

Opinions expressed by Entrepreneur contributors are their own. Many promising entrepreneurs...

Want to Start a Billion-Dollar Business? Look to These Two Industries, Which Have the Most Unicorn Growth

Cybersecurity and artificial intelligence stood out last year as the best-performing industries for unicorns or billion-dollar startups.The...