Full EU Ban on Russian Oil Shipping Services Requires Global G7 Approval

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The European Union has to coordinate its plans to impose a full ban on maritime services for Russian crude oil with the G7 group of the world’s most advanced economies, David O’Sullivan, the EU Sanctions Envoy, said on Thursday.  Early this month, the European Commission proposed in its planned 20th package of sanctions against Russia a full maritime services ban for Russian crude oil, which is expected to “slash further Russia's energy revenues and make it more difficult to find buyers for its oil,” European Commission…