The EU is ready to move forward with a total ban on maritime services for Russian oil exports - even if the G7 countries, including the US, do not agree.
This is what EU Commissioner for Economy Valdis Dombrovskis said at a press conference after the meeting of economy and finance ministers in Brussels on Tuesday.
- This is part of our proposal for the 20th sanctions package against Russia, which is currently being discussed with EU countries. We have presented it to our G7 partners, because it is best if we take coordinated steps.
- But we are ready to take steps at the EU level if broad agreement does not come, says Valdis Dombrovskis.
The EU countries' permanent representatives are scheduled to meet to discuss the 20th sanctions package against Russia on Wednesday.
The goal is to agree on the package before February 24, which is the anniversary of Russia's invasion of Ukraine. Here the war will enter its fifth year.
The EU Commission presented its proposal for the 20th sanctions package against Russia in early February.
In this connection, Ursula von der Leyen stated that a complete ban on maritime services for Russian oil exports would hit Russia hard.
- Russia will only come to the negotiating table with sincere intentions if it is pressured to do so. This is the only language Russia understands, she said in that connection.
Russia exports over a third of its oil via Western tankers and via Western shipping services. Most of it goes to India and China.
Russian oil revenues are used, among other things, to finance the war against Ukraine.
A ban would put an end to trade, which mainly takes place via EU countries such as Greece, Cyprus and Malta.
However, the effect would be even more extensive if all members of the G7 joined.
The G7 is an informal forum for seven of the world's leading industrialized democracies.
In addition to the EU countries Germany, France and Italy, the G7 consists of the United States, the United Kingdom, Canada and Japan.
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