00:02The EU is losing hopes in the chances of enforcing a full ban on maritime services for Russian tankers.
00:09The measure was approved in April as part of the 20th package of sanctions to cripple Moscow's war economy.
00:15It aims to prohibit all maritime-related services, including banking, shipping, flagging and insurance,
00:22for tankers carrying Russian oil.
00:24Turmoil in energy markets coupled with persistently high oil prices have hindered the measure's activation.
00:30Events in the Gulf have clearly changed the calculus about anything to do with energy.
00:37For the moment, what all Western economies are struggling with is access to energy at reasonable prices.
00:44So I think at this point there is no appetite to take additional measures which might aggravate that situation.
00:51The official reason for the pause was a desire to reach an agreement at the G7 level,
00:56but other G7 members haven't shown much enthusiasm in backing the ban.
01:00So in the 20th sanctions package, we did indeed include a legal basis to eventually activate a full maritime services
01:07ban.
01:08But we were clear that we would do this in consultation and in cooperation with our G7 partners.
01:14But we do remain committed to all of the measures that we've put in place, like the oil price cap,
01:19and what we can do to minimize revenues that Russia might gain from the situation in Iran.
01:28Additionally, Brussels has not yet secured the support of two member states with interests directly at stake,
01:34Greece and Malta.
01:35However, the former hosts a powerful shipping industry, while the latter controls Europe's largest ship registry.
01:43SCENentoactivity TV
01:44.
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