Key facts
- EU aims to disrupt the network facilitating Russian oil transportation.
- Investigations indicate this network might extend into Europe.
- Ships transporting sanctioned Russian oil are using insurance backed by European financial markets.
- This practice allows sanctioned oil to reach global markets.
The European Union has implemented sanctions and price caps on Russian oil to limit Moscow's revenue. However, the continued operation of ships with insurance backed by European markets suggests that circumventing these sanctions remains possible, potentially undermining the economic pressure intended by the EU. The EU now aims to disrupt this network, with investigations indicating it may extend into Europe.