00:02The European Union will not shy away from adopting a full ban on maritime services for Russian oil tankers if
00:09G7 allies fail to reach a deal, according to European Commissioner for the Economy Valdis Dombrovskis.
00:15Brussels wants the 20th package of sanctions to be approved by the time the full-scale invasion of Ukraine reaches
00:21its 4th anniversary on the 24th of February.
00:24It's not an absolute precondition, but the higher alignment we can achieve, including at G7 level, the better.
00:35But we would not shy away also to take steps at the EU level, so the broader agreement would not
00:43be forced to win.
00:44If the ban is enacted, the price cap on Russian oil would come to an end within the EU.
00:49All EU companies would be prohibited from servicing Russian tankers.
00:53It remains unclear how many G7 allies are willing to enact the measure.
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