Recently, the Council of the EU published its 12th package of sanctions against Russia in response to Russia’s continuing conflict with Ukraine. As highlighted by the European Commission, the focus of this new package “is to impose additional import and export bans on Russia, combat sanctions circumvention and close loopholes”.

What sectors are impacted by this new package? More specifically, what are the implications for tanker ownership, re-exportation, the oil price cap, and general rules of ownership and control?

Our Shipping, Transport & Logistics Focus Team breaks it all down in the document available here.