EU Proposes Russian Maritime Services Ban to Hit Oil Trade (1)

The European Union proposed new sanctions that would replace a price cap on Russian oil with a full ban on maritime services, while also barring imports of some metals, chemicals and critical minerals.

The European Commission, the EU’s executive branch, released the proposal on Friday. All EU member states have to approve the package before it goes into effect. In a statement, Commission President Ursula von der Leyen urged capitals to endorse the sanctions ahead of the war’s fourth anniversary at the end of February.

“We propose to enact this full ban in coordination with like-minded partners after a ...