Nov 15 (Reuters) – Denmark will be tasked with inspecting and potentially blocking Russian oil tankers sailing through its waters under new European Union plans, the Financial Times reported on Wednesday, as the West explores more ways of enforcing a price cap on Moscow’s crude.

The Group of Seven countries, the European Union and Australia imposed a $60 per barrel cap last December on sea-borne exports of Russian crude due to the conflict in Ukraine, but a rally in global oil prices this year has meant much of Russian oil has traded above the cap.

Denmark would target tankers transiting through the Danish straits without Western insurance, the FT report said, adding that all of Russia’s oil shipped through the Baltic Sea, or roughly 60% of its total seaborne exports, crosses the Danish straits on its way to international markets.

(Reporting by Shubham Kalia in Bengaluru; Editing by Muralikumar Anantharaman)

((Shubham.Kalia@thomsonreuters.com;))

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