EU eases sanctions on Russian oil exports

The EU will allow transactions needed for Russian state-owned companies to sell oil to third countries, the EU Council said in a statement on Thursday.

“With a view to avoid any potential negative consequences for food and energy security around the world, the EU decided to extend the exemption from the prohibition to engage in transactions with certain state-owned entities as regards transactions for agricultural products and the transport of oil to third countries,” the statement reads.

This provision means that Russian state-owned companies, including Rosneft, Gazprom Neft, and Sovcomflot, are now allowed to conclude deals with Europeans on the transport of oil to third countries.

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