The Financial Times reports that Denmark is considering the possibility of impeding market access for oil tankers originating from the Russian Federation.

The European Union (EU) is planning to direct Denmark to conduct inspections and potentially block tankers transporting Russian oil passing through Danish waters. This move comes in response to Russia's evasion of previously imposed price restrictions.

Denmark intends to inspect vessels passing through its waters lacking Western insurance, leveraging laws enabling states to examine ships they consider environmentally threatening, according to sources cited in the article.

Authorities justify the requirement for adequate insurance from reputable companies due to many Russian oil shipments being transported by aging vessels, part of the so-called "shadow fleet." These older vessels are more prone to breakdowns or oil spills, posing a significant environmental hazard.

The successful implementation of the plan relies on the Danish Navy's capacity to halt and inspect these tankers, along with the potential use of coercive measures if vessels refuse to comply.

The proposal emerged in Brussels following acknowledgments from Western officials that "almost none" of Russia's oil exports were sold below the $60-a-barrel "ceiling" last month. This price cap was imposed by the G7 in response to Russia's full-scale invasion of Ukraine, nearly 11 months ago.

The EU is contemplating additional measures as part of a new sanctions package. These measures include constraints on shipowners who sell their older vessels to Russia's "shadow fleet" and potential sanctions against nations permitting these ships to sail under their national flag.