Embargo of Russian oil during the Russo-Ukrainian War

Since the 2022 Russian invasion of Ukraine, the European Union, the G7 nations and Australia have imposed sanctions on Russia. The sanctions on oil began in December 2022 and included an embargo of Russian oil; namely, the bringing of crude oil and refined oil products from Russia to the EU and other G7 nations by ship, with a few exceptions. Sanctions apply to anyone facilitating the maritime transport of such oil in breach of the embargo, including trading and commodities brokering, financing, shipping, insurance, including reinsurance and protection and indemnity, and flagging and customs brokering. On 23 June 2023 as part of the 11th sanctions package, the EU prohibited access to European ports of all vessels suspected “with reasonable cause”, of having been involved in transshipment of Russian oil at a price higher than the price cap, or having turned off their Automatic Identification System trackers. Certain ships carrying oil have been flagged as being probably in violation of the embargo and some have been specifically sanctioned, as have their owners/managers. The number of ships considered in violation of the embargo can be significant. In October 2023, 2 carrying crude oil and 21 with oil products were identified, out of a total of 182 tankers carrying oil from Russian Black Sea ports that month. In 2023, under 5% of Russian crude oil products went to Europe, a fall of 90% in the year.