Discussions are in progress on further tightening sanctions against Russia. This includes the possibility of implementing a blanket ban on maritime services. However, both Cyprus & Malta have voiced concern that Cyprus and Malta should maintain their legitimate maritime roles, especially in the Black Sea region.
The Group of 7 (G7) countries and the European Union (EU) are currently in talks in attempting to replace a price cap on Russian oil exports with a full maritime services ban in an attempt to reduce the oil revenue that seems to be helping Russia finance its sustained war with Ukraine. This information was shared exclusively with Reuters on December 5, 2025.
Cyprus, besides Malta, along with Malta, tends to have the largest maritime fleet in the EU. As such, the regional countries have expressed their concern that the intended maritime sanctions on Russia should not impact their legitimate maritime businesses.
The Maltese government said in a statement that any shift away from the price cap must avoid pushing maritime services to non-EU jurisdictions, where the EU is likely to lose oversight, besides the leverage needed to uphold European standards.
Cypriot Foreign Minister Constantinos Kombos shared that there needs to be a holistic approach, adding that while additional pressure on Russia may be needed, the focus should also be on sanctions dodging.
Kombos went on to add that there are many actors involved, so the collective efforts of many can be undermined.
Russia tends to export over a third of its crude oil in Western tankers. These maritime movements are mostly to India & China, involving the use of Western shipping services. The intended ban is expected to end that trade, which is mostly executed through the fleets of EU maritime nations that include Cyprus, Malta and Greece.
