Cyprus and Malta, key shipping countries in the European Union, have opposed a complete ban on the provision of maritime services to Russia, which is being discussed by the G7 and EU countries as a replacement for the oil price cap. They state that strengthening sanctions should not harm legitimate maritime business. This is reported by Reuters, writes UNN.
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The governments of both countries, which together with Greece own the largest EU fleet, warned that abandoning the price cap could lead to the transfer of maritime services to jurisdictions outside the EU. This, in their opinion, would lead to a loss of European oversight and leverage.
Cypriot Foreign Minister Constantinos Kombos stated that a "holistic approach" is needed and emphasized the necessity of focusing on sanction evasion, as it undermines collective efforts.
Russia exports a significant portion of its oil using Western shipping services. A possible ban could be included in the next EU sanctions package, planned for early 2026.