The European Commission has reportedly dropped a proposal to ban the sale of tankers to Russian owners.
The measure was proposed in November to help stop the Russian government from bypassing Western sanctions on the country’s oil through the so-called “shadow fleet” of Russian-controlled crude and product vessels.
Reuters has cited sources familiar with the matter as saying a new package of sanctions is close to being agreed, but the ban is not now part of this.
The proposal would also have introduced a contractual clause for tanker sales to third countries barring a resale into Russia and prohibiting their carrying Russian oil sold above the price cap of $60 per barrel.
One source said Mediterranean countries with big shipowners feared the measures could put them at a competitive disadvantage.
The new draft includes only a requirement that such sales are reported.
The text also includes tougher measures on how to prove Russian oil is being sold under the cap as compliance wanes.
European Union companies will now have to make counterparties sign contracts barring the re-export of oil to Russia.
The clause will apply to existing contracts with a transition phase, the sources said.
The EC declined to comment.
The EU has also reportedly dropped a requirement that member states okay any transfer of funds from a Russian entity out of the EU.
Countries are still talking about transition times for import bans on some metal products, such as steel slabs and iron.
But there will be a direct ban on imports of non-industrial Russian diamonds from 1 January.
