Overview
- Trade Minister Chris Bryant told MPs the UK would not let U.S. reluctance block joint action with the EU.
- FCDO sanctions official Esther Blythe said Britain backs a full ban covering insurance, shipping and related services for crude and refined products and aims to move as soon as possible.
- The European Commission proposed the measure in the EU’s 20th sanctions package, with envoy David O’Sullivan stressing the need for G7 coordination before a decision as internal EU disputes continue.
- Committee chair Liam Byrne said his understanding is that American counterparts are not yet supportive of the ban.
- The step would go beyond the US$44.10 price cap and could halt Western tankers and services—largely from Greece, Cyprus and Malta—that carry over a third of Russia’s oil to buyers such as India and China.