EU to Replace Russian Oil Price Cap with Full Maritime Services Ban

The European Union is moving to replace its long-standing oil price cap mechanism for Russian crude with a full ban on maritime services linked to the transport and shipment of Russian oil — a strategic shift expected to significantly tighten restrictions on Moscow’s crude exports. Under the proposed measures, EU-linked firms would be prohibited from providing key shipping services such as insurance, transport and related maritime support for crude oil shipments from Russia, regardless of price, effectively broadening the reach of sanctions beyond traditional import bans.

European Commission President Ursula von der Leyen has stated that the full maritime services ban would further cut Russia’s energy revenues and make it more difficult for its oil to find global buyers — especially through Western-controlled logistics and shipping networks. To take effect, the proposal still requires approval from all EU member states, and discussions among G7 partners are expected to shape the final package.

Market analysts warn that such a ban could accelerate the expansion of Russia’s shadow fleet — a network of vessels operating outside Western insurance and regulatory systems to evade sanctions — but also increase operational risks and environmental exposure due to the use of less-regulated tankers. The potential sanctions are part of a broader EU push to amplify pressure on Russia’s economy while reacting to geopolitical tensions and developments in global energy flows.