The EU is exploring emergency interventions to its maritime trade restrictions, moving to temporarily freeze the price cap on Russian crude oil to prevent global energy market disruptions from handing an unintended financial windfall to the Kremlin, Bloomberg reported.
Last year, the EU established a dynamic, automatic mechanism designed to continuously squeeze Russian oil revenues. The rule mandates that every six months, the price cap must be recalculated and legally set exactly 15% below the prevailing average market price of Russia’s benchmark Urals crude.
The current price ceiling is fixed at $44.10 per barrel, with the next formal adjustment scheduled for late summer. Under this restriction, European maritime firms are legally barred from providing vital logistics, shipping, or insurance services for any vessel carrying Russian oil sold above the threshold.
However, the war in Iran and the physical closure of the strategic Strait of Hormuz have induced severe instability across global energy networks, causing international crude prices to skyrocket.
International Glance
In a historic first for Germany, nearly 700 students at the University of Leipzig voted almost unanimously on 19 May to demand that their university sever all ties with Israeli academic institutions over the genocide in Gaza.
US authorities have temporarily banned green-card holders from entering the country if they have traveled to the Democratic Republic of the Congo (DRC), Uganda or South Sudan in the last 21 days.
The office of the prosecutor of the International Criminal Court last month filed a secret arrest warrant application for Israeli finance minister Bezalel Smotrich over alleged war crimes and crimes against humanity committed against Palestinians in the occupied West Bank, sources briefed on the matter told Middle East Eye.





























