EU bids to finalise new Russia sanctions amid discontent from some member states – Europe liveNEWS | 22 July 202606.59 EDT EU talks on finalising 21st package of sanctions against Russia under way Jennifer Rankin
in Brussels
Here in Brussels talks between senior EU diplomats are under way in the latest attempt to overcome Greece’s opposition to the bloc’s sanctions against Russia.
Ukrainian and EU flags flutter in front of National Bank building in Kyiv, Ukraine. Photograph: NurPhoto/Getty Images
Greece is the last remaining obstacle to the EU’s 21st round of sanctions against Russia, as it seeks to block a ban on transporting oil that would affect a large shipping company, Dynagas, owned by billionaire George Prokopiou.
Dynagas, which specialises in transporting liquefied natural gas in sub-zero temperatures, has invested in icebreakers to transport energy from Russia’s Yamal peninsula in Siberia to non European countries.
But amid great fanfare, the EU agreed last year that the “the purchase, import or transfer, directly or indirectly” of Russian LNG will cease from 1 January 2027.
Athens is now holding up the 21st package, as it seeks an exemption on this previously agreed measure. The 21st round of sanctions includes measures targeting crypto companies, banks and oil traders helping Russia evade sanctions. It would maintain a price cap on Russian oil at $44 to prevent the Kremlin gaining from rising crude prices, following the closure of the Strait of Hormuz
The stand-off has already necessitated an emergency prolongation of the EU’s oil price cap on Russia. Without further agreement., the oil price cap will go up automatically later this summer. EU ambassadors meeting in Brussels on Wednesday have given themselves until tomorrow to resolve the impasse.
A ban on imports of Russian cod has already been dropped, amid opposition from Portugal and Germany, the latter fearing the impact on the price of fish fingers.
A proposed ban on Russian combatants entering the EU looks set to be delayed, following opposition from France and Italy, two member states that grant large numbers of visas to Russian tourists.
The unraveling of the package has prompted some insiders to ask if the EU’s sanctions policy is reaching its limits.
But Ukraine, which is enduring an intensification of Russian attacks that have increased the numbers of civilians killed and injured, argues the EU can still do more to pressure Russia.
Writing on X, Ukraine’s sanctions envoy Vladyslav Vlasiuk wrote:
“Is it fair that while many [EU] companies left the [Russian] market and accepted the cost, others stayed, earned windfall profits, and now seek exemptions?”Author: Jakub Krupa. Source
