European Union to ban the transport of Russian oil by boat in 2023
- The European Union, at its meeting on 30 May, has decided to ban the supply of Russian oil by boat, but has authorised Druzhba to continue to be supplied with oil. It has therefore imposed a partial embargo on Russian oil. Two-thirds of the oil coming from Russia to Europe is brought by boat.
The European Union (EU) authorities met on an extraordinary basis on the afternoon of 30 May to discuss the sixth wave of sanctions against Russia. Russian oil was the subject of an embargo, but the Hungarian Prime Minister, Viktor Urban, has been against it because 100% of the oil they consume comes through the oil tanker Druzhba. Embargoes must be agreed unanimously and in order to overcome the Hungarian veto the EU authorities agree on the following formula: 2023 will not bring Russian oil by sea from the start, but Druzhba will not stop until Hungary, Slovakia and the Czech Republic have another oil supply solution.
Two thirds of Russian oil by boat
Over two-thirds of Russian oil comes by boat to Europe. Last year, 1.57 million barrels per day (68.5%) and 0.75 million barrels (31.5%) were brought on board for Druzhba oil.
But since the outbreak of the war in Ukraine, more oil has been brought along the Druzhba road: in April, 10,000 barrels more have been brought daily than in February, and 500,000 barrels less by boat have been brought daily.
Russian oil companies are lowering the price to deal with the obstacles they are imposing on them for international sale, so while the Brent barrel is about 120 dollars, the Russian one is 93 dollars.
Some Russians with goods in Europe will freeze them
The following are also applicable to Russian individuals in this sixth package of penalties agreed by the European Union: Buying property in the EU will be banned or made difficult for Russian citizens and businesses and goods they own in the EU will be frozen for people such as the patriarch of the Kiril Russian Orthodox Church, the alleged partner of Alina Kabaeva Putin and those accused of war crimes in Ukraine.
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