Joint pressure from the US, EU and UK: Measures to strengthen oil sanctions against Russia

December 1 marked a new stage in international politics, as the United States, the European Union, and the United Kingdom called on Liberia, the Marshall Islands, and Panama to tighten supervision of ships carrying Russian oil. The goal is to guarantee compliance with the maximum price of $60 per barrel.

According to Reuters, this pressure is aimed at warning countries about the increase in price cap circumvention and the risks associated with ships that avoid Western insurance and other services. This could lead to tougher sanctions against Russia, which is looking for alternative flags.

Reuters emphasizes that the main goal of such pressure is not to reduce the number of ships, but to increase compliance with restrictions and make it more difficult to transport Russian oil without using Western transportation services.

This is a new strategy aimed at reducing Russia's oil export revenues, initiated by the G7 countries as a response to the events in Ukraine at the end of 2022. Banning Western companies from providing maritime and other related services has become a key mechanism.

Panama, the Marshall Islands and Liberia, by allowing "flag hopping," provide an opportunity for some companies to avoid sanctions by registering their vessels under their flags.

These new measures are important for strengthening sanctions pressure on Russia and important for Ukraine to maintain its territorial integrity. It is important to note that the restrictions were announced the day before, giving the Kremlin time to prepare.