Important to keep pressure on Russia – Dombrovskis on sanctions against Russian oil

Against the backdrop of some calls to relax sanctions on Russia’s energy sector due to disruptions in oil supply chains resulting from the escalation in the Middle East, the EU believes that pressure on the aggressor state should not be weakened.

This was stated by European Commissioner for the Economy Valdis Dombrovskis during a press conference following the Eurogroup meeting in Brussels, Ukrinform’s correspondent reports.

"We should keep the pressure on Russia to prevent it from filling its war chest," Dombrovskis said, noting that Russia could benefit from the situation with rising oil and gas prices.

He emphasized the importance of maintaining the course of sanctions by adhering to the price cap rules on Russian oil and moving toward a full ban on maritime service support for Russia’s shadow fleet.

Dombrovskis confirmed that the United States’ position on this issue was discussed at the Eurogroup meeting today, noting that the U.S. generally agrees with this approach and that the American side stresses that the exemption granted to India [for purchasing Russian oil] is limited in time and volume, and that they do not expect it to have a significant impact on Russia's oil revenues.

As Ukrinform reported, oil refineries in India received a 30-day exemption from U.S. sanctions regarding the purchase of Russian oil.

On February 4, U.S. President Donald Trump ordered the provision of military escort and risk insurance for tankers carrying oil and gas passing through the Strait of Hormuz.

Iranian representatives, including senior officials of the Islamic Revolutionary Guard Corps, announced on March 3 that the Strait of Hormuz was closed and threatened to attack vessels attempting to pass through it.

On March 9, it became known that Hungarian Prime Minister Viktor Orban appealed to the European Commission to lift sanctions imposed on Russian energy resources.

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