New EU sanctions introduce tighter compliance rules to support implementation of price cap for Russian oil

17:41, 18.12.2023 1 min read

The European Union is introducing tighter compliance rules to support the implementation of the price cap for Russian oil, the European Council has said on a statement on Monday.

"The Council is introducing tighter compliance rules to support the implementation of the oil price cap and clamp down on circumvention," it said.

According to the statement, it is about "a strengthened information sharing mechanism" for "better identification of vessels and entities carrying out deceptive practices."

In addition, the European Council "decided to introduce notification rules for the sale of tankers to any third country in order to make more transparent their sale and export, in particular in the case of second-hand carriers."