Ukraine, EU and G7 consider stopping Russian oil by sea. Von der Leyen: 'On Russian assets all share risk'
Russia exports more than one third of its oil on Western tankers, mainly to India and China, using Western shipping services. The ban would put an end to this trade, which takes place mainly through the fleets of EU maritime countries, including Greece, Cyprus and Malta
"I met with German Chancellor Friedrich Merz and Belgian Prime Minister Bart De Wever to exchange views on the situation in Ukraine and the frozen Russian assets. We agreed that the time factor is essential, given the current geopolitical situation. We emphasised that financial support for Ukraine is of paramount importance for European security. We had a very constructive exchange on this subject. Belgium's particular situation regarding the use of frozen Russian assets is undeniable and must be addressed in such a way that all European states take the same risk'. European Commission President Ursula von der Leyen writes this on X.
"We agreed," he concludes, "to continue the discussions with the aim of reaching a consensus at the European Council meeting on 18 December.
EU and G7 consider stopping Russian oil by sea
The G7 countries and the European Union are in talks to replace the price cap on Russian oil exports with a total ban on shipping services in an attempt to reduce oil revenues that help finance Russia's war in Ukraine. Reuters writes this, citing six sources familiar with the matter.
Russia exports more than one third of its oil on Western tankers, mainly to India and China, using Western shipping services. The ban would put an end to this trade, which takes place mainly through the fleets of EU maritime countries, including Greece, Cyprus and Malta. The other two-thirds of Russian oil exports are shipped on a fleet of hundreds of tankers operating outside Western maritime control and standards - the so-called 'shadow fleet'.
Russia is expected to expand this fleet if the G7 and the EU impose a ban on maritime services. The ban could be part of the EU's next sanctions package against Russia, scheduled for early 2026, three of the six sources told Reuters. The EU would like to approve the ban together with a broader G7 agreement before proposing the stop in the package, two sources said. British and American officials are pursuing the idea in technical meetings of the G7, the sources said.

