EU eases export restrictions on Russia for Caspian Pipeline Consortium maintenance, Interfax reports.
The European Union (EU) has decided to relax export limitations on Russia as part of its 11th sanctions package. The move aims to facilitate the technical servicing of the Caspian Pipeline Consortium (CPC), according to an EU press release.
Under the new measures, certain exemptions will be introduced to existing export bans, allowing for the maintenance of the CPC, which transports Kazakh oil to the EU via Russia. Authorities may authorize the sale, supply, export, or transit of "sub-sanctioned" goods and technologies, as well as the provision of related technical and financial assistance, provided they align with previous consortium requirements.
Member states are required to inform the commission of any authorizations, with each case subject to scrutiny. Detailed reports and a "certificate of end-user" will be necessary to ensure the proper use of supplied goods and services.
Although the consortium itself is not subject to international sanctions, it has encountered challenges in its collaboration with foreign partners. Discussions are ongoing to address equipment supply issues, with Kazakh authorities assisting in finding solutions. The replacement of external mooring devices by 2026 is also being explored.
The CPC pipeline connects oil fields in western Kazakhstan to Russian offshore sites in the Caspian Sea, ultimately reaching the marine terminal in Novorossiysk. This pipeline is vital for Kazakh oil exports, accounting for over 80% of transported volumes. In 2022, approximately 58.7 mln tons of oil were exported, with projections of around 61 million tons for 2023.
Comments (0)