EU and US fight Russia sanctions evasion

One of the most severe sanctions against Russia so far is the embargo on oil imports by sea to EU countries and the price muzzle on supplies to third countries. 

"We are already preparing for their next phase. On February 5, this year, an embargo on imports of petroleum products from Russia and another price ceiling on such products will come into force," Iwona Wiśniewska of the Centre for Eastern Studies said.

As she assessed, these steps against the Russian energy sector will reduce its central budget revenues, but still much depends on whether and how Russia manages to get around the embargo. Therefore, there is a need to seal the sanctions imposed.

Analyses by the NGO Global Witness show that between 34 and 52 percent of Russian oil exports last year in individual months were carried out by ships and companies registered in Cyprus, Greece, and Malta.

(Newseria)