Brussels, June 10 (LaPresse) – "We propose to introduce a transaction ban for Nord 1 and Nord Stream 2. This means that no EU operator will be able to participate, directly or indirectly, in any transaction related to the North Stream pipelines. There will be no return to the past. We also propose to lower the maximum price cap on oil from $60 to $45 per barrel." This was stated by European Commission President Ursula von der Leyen at a press conference with European High Representative for Foreign Affairs Kaja Kallas on the 18th package of sanctions against Russia. "Since the introduction of the oil price cap in 2023, all prices have fallen. Now transactions are very close to the cap level. By lowering the cap, we have adapted to the changed market conditions and preserved its effectiveness. Oil exports still account for a third of the Russian government's revenues. We must reduce this source of revenue. The oil price cap is a G7 coalition measure, so we will discuss how to act together, in addition to better enforcing the cap, in Canada at the end of this week or early next week,“ she added. Von der Leyen then recalled that ”in addition to the 342 ships already included“ on the blacklist, ”today we are adding another 77 ships that are part of the Russian shadow fleet. These ships are a means of circumventing sanctions. With their inclusion, we are drastically limiting Russia's ability to export its oil through a shadow fleet. Finally, we are introducing a ban on imports of refined products made from Russian crude oil. In this way, we want to prevent some of Russia's crude oil from reaching the EU market through the back door."
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