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Greece and Malta Resist EU Plan to Toughen Russia Oil Sanctions

EU sanctions require unanimity, leaving the proposal open to changes before an end‑February deadline.

Overview

  • The draft 20th package seeks the first EU sanctions on third‑country ports by targeting Kulevi in Georgia and Karimun in Indonesia using an anti‑circumvention tool.
  • Bloomberg reports that Greece and Malta objected to replacing the Russian oil price cap with a ban on maritime services, citing risks to shipping and energy costs and asking for clarity on port sanctions and ship‑seller oversight.
  • The proposal widens trade restrictions by banning imports of multiple metals, as well as salt, ammonia, gravel, silicon and fur.
  • New measures would curb sales of metal‑cutting machines and certain communications gear to Kyrgyzstan, add two Kyrgyz lenders to the EU list for crypto services to Russia, propose listings for banks in Laos and Tajikistan, and drop two Chinese banks from the draft.
  • The draft adds 30 individuals and 64 entities, including Bashneft and eight Russian refineries such as Tuapse and Syzran, while not naming Rosneft or Lukoil; France has pushed for tougher action on the shadow fleet.