Denmark may block Russian oil tankers' access to markets - Reuters

The European Union plans to instruct Denmark to inspect and potentially block Russian oil tankers passing through its waters as the West seeks new ways to limit the price of Russian crude oil.

Reuters reported this, Ukrinform saw.

The G7 countries, the EU, and Australia imposed a USD 60 per barrel cap on Russian oil exports by sea last December due to Russia's invasion of Ukraine. But rising world oil prices this year have led to most Russian oil being sold above the cap.

According to the plan, which was first reported by the Financial Times, citing sources, Denmark will control tankers transiting the Danish straits without Western insurance.

Read also: Treasury suspects 100 vessels of violating oil sanctions against Russia - Reuters

All Russian oil transported through the Baltic Sea, or approx. 60% of Russia's total maritime exports, crosses the Danish straits on its way to international markets.

As Ukrinform reported, according to the International Energy Agency, Russia's oil export revenues decreased in October 2023 as world oil prices fell and the United States imposed sanctions on ships that violated Western restrictions.