{"id":104153,"date":"2026-02-26T23:20:14","date_gmt":"2026-02-27T02:20:14","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/895985940"},"modified":"2026-02-26T23:20:14","modified_gmt":"2026-02-27T02:20:14","slug":"full-eu-ban-on-russian-oil-shipping-services-requires-global-g7-approval","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/02\/26\/full-eu-ban-on-russian-oil-shipping-services-requires-global-g7-approval\/","title":{"rendered":"Full EU Ban on Russian Oil Shipping Services Requires Global G7 Approval"},"content":{"rendered":"<p> <title>Full EU Ban on Russian Oil Shipping Services Requires Global G7 Approval | OilPrice.com<\/title>     <\/p>\n<p> <!-- Below is a link to a CSS file that accounts for Cumulative Layout Shift, a new Core Web Vitals subset that Google uses to help rank your site in search --><br \/>\n<!-- The file is intended to eliminate the layout shifts that are seen when ads load into the page. If you don't want to use this, simply remove this file --><br \/>\n<!-- To find out more about CLS, visit https:\/\/web.dev\/vitals\/ --><br \/>\n <!-- Google Tag Manager --> <!-- End Google Tag Manager --> <\/p>\n<p>  <!-- Start SmartBanner --> <!--link rel=\"stylesheet\" href=\"a\/css\/third_party\/smartbanner.min.css\" type=\"text\/css\" \/&gt;             &lt;meta name=&quot;smartbanner:disable-positioning&quot; content=&quot;true&quot;--> <!-- End SmartBanner configuration --> <!-- preconnect -->   <!-- Matomo --> <!-- End Matomo Code --> <!-- Meta Pixel Code -->  <!-- End Meta Pixel Code --> <!-- Google Tag Manager (noscript) -->  <!-- End Google Tag Manager (noscript) --> <\/p>\n<div class=\"siteWrapper\"> <!-- \/.header --> <!-- \/.primaryNavigation --> <!-- \/.breakingNews --> <\/p>\n<div id=\"pagecontent\">  <!-- \/.articleOtherNews --> <!-- \/.articleLineDivider --> <\/p>\n<div class=\"siteContainer singleArticleWrapper\">\n<div class=\"tableGrid\">\n<div class=\"tableGrid__column tableGrid__column--articleContent singleArticle\"> <!-- \/.singleArticle__headingMeta --> <\/p>\n<div class=\"singleArticle__wrapper\">\n<div id=\"singleArticle__sidebar\" class=\"singleArticle__sidebar\">\n<div class=\"authorBox\"> <img data-opt-id=758893364  fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Michael Kern\" title=\"Michael Kern\" fifu-data-src=\"https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1\" class=\"authorBox__avatar lozad\"> <\/p>\n<p class=\"authorBox__authorName\">Michael Kern<\/p>\n<p class=\"authorBox__authorBio\">Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,&nbsp;<\/p>\n<p><a class=\"authorBox__moreInfo\" href=\"https:\/\/oilprice.com\/contributors\/Michael-Kern\/\">More Info<\/a><\/p>\n<p> <!-- \/.authorBox__authorBio --> <\/div>\n<p> <!-- \/.authorBox --> <!-- \/.sidebarRelatedArticles --> <\/p>\n<div class=\"sidebarRelatedArticles\">\n<h3 class=\"sectionHeading__title sidebarRelatedArticles__title\">Related News<\/h3>\n<p> <!-- \/.sidebarRelatedArticles --> <\/div>\n<p> <!-- \/.sidebarRelatedArticles --> <\/div>\n<p> <!-- \/.singleArticle__sidebar --> <\/p>\n<div class=\"singleArticle__content\"> <span class=\"article_byline\">By <a href=\"https:\/\/oilprice.com\/contributors\/Michael-Kern\/\">Michael Kern<\/a> &#8211; Feb 26, 2026, 10:30 AM CST<\/span> <\/p>\n<div class=\"articleImageContainer\"> <img data-opt-id=758893364  fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i1.wp.com\/d32r1sh890xpii.cloudfront.net\/news\/718x300\/2026-02-26_mhi5dbrt41.jpg?ssl=1\" alt=\"EU\" title=\"EU\"><img> <\/div>\n<div id=\"news-content\" class=\"wysiwyg clear\">\n<p class=\"speakable\"><span>The European Union has to coordinate its plans to impose a full ban on maritime services for Russian crude oil with the G7 group of the world\u2019s most advanced economies, David O\u2019Sullivan, the EU Sanctions Envoy, <\/span><a href=\"https:\/\/www.reuters.com\/business\/energy\/eu-seeks-g7-coordination-maritime-services-ban-russian-seaborne-oil-2026-02-26\/\"><span>said<\/span><\/a><span> on Thursday.&nbsp;<\/span><\/p>\n<p><span>Early this month, the European Commission proposed in its planned 20<\/span><span>th<\/span><span> package of sanctions against Russia a full maritime services ban for Russian crude oil, which is expected to \u201cslash further Russia&#8217;s energy revenues and make it more difficult to find buyers for its oil,\u201d European Commission President Ursula von der Leyen <\/span><a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/statement_26_318\"><span>said<\/span><\/a><span>.&nbsp;<\/span><\/p>\n<p><span>\u201cAs shipping is a global business, we propose to enact this full ban in coordination with like-minded partners after a decision of the G7,\u201d von der Leyen added.&nbsp;<\/span><\/p>\n<p><span>The EU will need to coordinate this plan with representatives of the G7 group, sanctions envoy O\u2019Sullivan said at a news conference in Kyrgyzstan, as carried by Reuters.&nbsp;<\/span><\/p>\n<p><span>EU and G7 representatives will discuss the issue over the coming weeks, the EU diplomat said. <\/span><span><br \/><\/span><span>\u201cI think the European Union has made clear that for the moment we are applying the oil price cap, which has just recently been reduced to $44 a barrel,\u201d O\u2019Sullivan added.&nbsp;<\/span><\/p>\n<p><span>\u201cRussia&#8217;s revenue from oil and gas is down dramatically in recent months, and we will continue that policy.\u201d&nbsp;<\/span><\/p>\n<p><span>The EU started applying in January a new automatic and dynamic mechanism for price adaptation of the oil price cap for Russian crude, which <\/span><a href=\"https:\/\/finance.ec.europa.eu\/news\/new-dynamic-mechanism-lower-price-cap-russian-crude-oil-4410-barrel-2026-01-15_en\"><span>lowers the cap<\/span><\/a><span> to $44.10 per barrel effective February 1. The new mechanism ensures that the cap is always 15% lower than the average market price for Russia\u2019s flagship <\/span><a href=\"https:\/\/oilprice.com\/oil-price-charts\/#WTI-Crude\"><span>Urals crude<\/span><\/a><span> in the previous reference period of 22 weeks.&nbsp;<\/span><\/p>\n<p><span>Under this current price cap mechanism, Western firms are only allowed to provide maritime transport and related services for Russian crude oil if it is sold at or below the price cap.&nbsp;<\/span><\/p>\n<p><span>A full EU ban on maritime services would make the price cap irrelevant. The mechanism has been applied with mixed success as Russia moved large volumes of its oil exports to the shadow fleet and web of traders.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/span><\/p>\n<p><span>By Michael Kern for <\/span><a href=\"http:\/\/oilprice.com\"><span>Oilprice.com<\/span><\/a><span>&nbsp;<\/span><\/p>\n<p><strong>More Top Reads From Oilprice.com<\/strong><\/p>\n<\/p><\/div>\n<p><a class=\"join-discussion\" href=\"https:\/\/oilprice.com\/Latest-Energy-News\/World-News\/Full-EU-Ban-on-Russian-Oil-Shipping-Services-Requires-Global-G7-Approval.html#join-discussion\">Join the discussion<\/a> | <a href=\"https:\/\/oilprice.com\/\">Back to homepage<\/a><\/p>\n<\/p><\/div>\n<p> <!-- \/.singleArticle__content --> <\/div>\n<p> <!-- \/.singleArticle__wrapper --> <br \/><!-- \/192633929\/OilPrice-728x90-BTF --> <!-- END: \/192633929\/OilPrice-728x90-BTF --> <br \/><!-- \/.singleArticle__navigation --> <\/p>\n<div class=\"articleAuthorBox\"> <img data-opt-id=758893364  decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"articleAuthorBox__avatar lozad\" data-src=\"https:\/\/i3.wp.com\/d32r1sh890xpii.cloudfront.net\/avatars\/medium\/9d27ff509a9374a7497b84137f4c95c6.png?ssl=1\" alt=\"Michael Kern\" title=\"Michael Kern\"> <\/p>\n<div class=\"articleAuthorBox__content\">\n<h3 class=\"articleAuthorBox__author\">Michael Kern<\/h3>\n<p class=\"articleAuthorBox__text\"> Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,&nbsp; <\/p>\n<p><a class=\"articleAuthorBox__moreinfo\" href=\"https:\/\/oilprice.com\/contributors\/Michael-Kern\/\">More Info<\/a><\/p>\n<p> <!-- \/.articleAuthorBox__text --> <!-- \/.articleAuthorBox__socialIcons --> <\/div>\n<p> <!-- \/.articleAuthorBoxContent --> <\/div>\n<p> <!-- \/.articleAuthorBox --> <\/p>\n<div class=\"articleRelatedPosts\">\n<h3 class=\"articleRelatedPosts__heading\">Related posts<\/h3>\n<\/p><\/div>\n<p> <!-- \/.articleRelatedPosts --> <\/div>\n<p> <!-- \/.tableGrid__column --> <\/p>\n<div class=\"tableGrid__column tableGrid__column--articleSidebar\">\n<div class=\"articleSidebar\"> <!-- \/.banner-articleSidebar --> <br \/><!-- \/192633929\/OilPrice-300x250-BTF2 --> <!-- END: \/192633929\/OilPrice-300x250-BTF2 --> <br \/><!-- \/192633929\/OilPrice-300x250-BTF3 --> <!-- END: \/192633929\/OilPrice-300x250-BTF3 --> <!-- \/.articlesSidebarRelatedArticles --> &lt;!&#8211; <\/p>\n<div class=\"banner--articleSidebar\"> <\/div>\n<p> &#8211;&gt; <!-- \/.banner-articleSidebar --> <\/div>\n<p> <!-- \/.articleSidebar --> <\/div>\n<p> <!-- \/.tableGrid__column --> <\/div>\n<p> <!-- \/.tableGrid -->\n<\/div>\n<p><!-- \/.siteContainer --> <\/div>\n<p> <!-- \/.footerLogoBanner --> <!-- \/.footer --> <\/div>\n<p> <!-- \/wrapper-container --> <!-- Quantcast Tag -->   <!-- End Quantcast tag --> <!-- Incudles Optin Monster Popup Campaigns --> <!-- Bing retargeting pixel --> <!-- End Bing retargeting pixel --> <!-- Facebook Pixel Code --><br \/>\n<!-- End Facebook Pixel Code --> <!-- Check if article to load in extra fb pixel and google pixel--> <\/p>\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\"> <\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\"> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8230; von der Leyen said.\u00c2\u00a0 \u00e2\u0080\u009cAs <span class=\"match\">shipping<\/span> is a global business, we &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-104153","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/104153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=104153"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/104153\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=104153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=104153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=104153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}