On Monday, Reuters reported that there continues to be considerable disagreement among the states of the EU over selling oil tankers to Russia. Amid the disagreements, diplomats from the bloc are seeking to find a middle ground on a 12th package of sanctions on Moscow.
Previously, the European Commission proposed a ban on the sale of old tankers to entities based in Russia, as well as barring EU firms from utilizing them in an effort to prevent any work-around to the G7 price cap on Russian oil.
According to an unnamed source, the relevant clause was dropped, as Mediterranean states, which are home to a number of powerful shipping companies and services complained that such a measure would hurt their businesses. In the latest draft of the proposed sanctions package, the ban has been replaced with a requirement that shipping companies must report such sales.
It is expected that the 12th package of EU sanctions against Moscow will forbid the sale of specific chemicals, lithium batteries, thermostats, and drone motors, in addition to various “dual use” machinery and machine parts which have the capability to be used to manufacture weapons.
The new restrictions will also include a total ban on the sale of Russian diamonds and jewelry beginning January 1st, 2024. It is estimated that as many as 120 legal entities and individuals will be subject to restrictions.
Reportedly, member nations are still negotiating the transition times for imposing bans on the import of some metal items, such as steel slabs, and iron.