EU to introduce monitoring of tanker flag changes to control attempts to circumvent sanctions

EU countries plan to introduce a system for monitoring tanker flag changes to control attempts to circumvent sanctions against Russian oil, Politico reports, quoting from the draft document of the European Commission (EC on new anti-Russian sanctions.

The publication explains that changing the registration of a tanker to a country not subject to the need to comply with EU sanctions could help shipowners trade Russian oil at a price above the cap, which the EU may introduce as part of a new package of measures.