The West is exploring new methods of imposing a price cap on Russian oil. According to the European Union's new plans, Denmark will be tasked with inspecting and potentially blocking Russian oil tankers passing through its waters. This was reported by the Financial Times.
Last December, the G7 countries, the European Union and Australia imposed a $60 per barrel limit on Russian oil exports by sea due to the events in Ukraine. However, the rise in global oil prices this year has led to a significant part of Russian oil being sold above the ceiling.
According to the new plan, Denmark will control tankers passing through its waters without appropriate Western insurance.
According to the FT, the entire volume of Russian oil that travels through the Baltic Sea, which is approximately 60% of its total maritime exports, crosses the Danish straits to international markets.