EU and UK Impose New Sanctions on Russia Targeting Oil Trade

The European Union and the United Kingdom have announced new sanctions on Russia, aimed at disrupting its oil trade and curbing operations of shadow oil tankers and financial firms linked to circumventing sanctions.

Impact on Global Oil Supply Chain

On May 20, the EU and UK took a major step by tightening restrictions on Russia, bypassing the United States. These sanctions may directly affect Russia’s oil trade with countries like India. Under the new measures, any tanker supplying Russian oil above the G7-imposed price cap of $60 per barrel will be restricted.

Focus on Shadow Oil Tankers and Financial Channels

The primary target of these sanctions are tankers operating with concealed identities and the financial companies facilitating their trade. The aim is to increase enforcement and close loopholes in existing restrictions. The sanctions will also reinforce earlier measures imposed during the initial stages of the Russia-Ukraine conflict.

Political Reactions and Background

European leaders from the UK, France, Germany, and Poland recently visited Kyiv to urge an immediate ceasefire in Ukraine and warned of further sanctions on Russia if it failed to comply. Despite US President Donald Trump's recent call with Russian President Vladimir Putin, no concrete assurances were obtained. The softer US stance prompted the EU and UK to act independently.

Future Measures

EU foreign policy chief Kaja Kallas confirmed that preparations for additional sanctions are already underway. She stated, “The longer Russia prolongs the war, the harsher the sanctions will become.”