EU Expands Oil Sanctions, Bans Maritime Services for Russian Crude

The European Commission proposed its broadest sanctions package yet on Russian crude, banning European firms from providing shipping, insurance, financing and other maritime services for Russian oil at any price. The plan would also widen Moscow’s shadow fleet sanctions (adding dozens of vessels to the blacklist) and tighten import bans on metals, chemicals and minerals. European Commission President Ursula von der Leyen says the measures will raise the cost and risk of selling Russian oil and push Moscow toward peace talks, as the US tightens enforcement on related fronts. While unlikely to halt flows entirely, the package would push more oil into high-friction channels, increasing logistics complexity and shrinking margins; EU unanimity on the measures remains a hurdle.