Connect with us

Hi, what are you looking for?

Energy

EU diplomats to green-light further sanctions against Russia today

EU ambassadors will this afternoon discuss another round of sanctions against Russia, according to two diplomats, who are expecting the package to get a political green light at the meeting.

The new package includes sanctions targeting more Russian oligarchs and elements of the maritime industry, but will not directly hit any ports to avoid disruption in trade and energy supplies, the diplomats said.

Ukraine and the U.S. have also called on the EU to also target Russian gas and oil imports as part of international sanctions. European Commission heavyweights such as finance and trade chief Valdis Dombrovskis and climate chief Frans Timmermans also argued that nothing should be off the table to stop Russia’s aggression, given Europe’s energy imports are financing Putin’s war machine.

But one diplomat stressed more time is needed to find a consensus among EU countries on the issue of targeting oil, especially given Germany’s open resistance to banning Russian energy. The issue is set to be discussed by EU leaders at their informal summit later this week, the diplomat said.

If the new sanctions are agreed, the formal adoption could come as early as tomorrow, according to the second diplomat. They would come on top of a long list of earlier EU sanctions, coordinated with the U.S. and the U.K., including financial sanctions.

In parallel, Brussels is also discussing with other G7 countries removing the trade benefits that Russia enjoys at the World Trade Organization, with an announcement potentially coming later today.

Want more analysis from POLITICO? POLITICO Pro is our premium intelligence service for professionals. From financial services to trade, technology, cybersecurity and more, Pro delivers real time intelligence, deep insight and breaking scoops you need to keep one step ahead. Email [email protected] to request a complimentary trial.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

Europe

Having settled in Brussels after three decades reporting about the broader Middle East, Hugh Pope is preparing for publication “The Keys to Democracy,” a...

Europe

Canada has targeted media tycoon Alexander Lebedev as part of a wave of fresh sanctions against Russian oligarchs, in a move that places greater...

Europe

Australian Labor Party leader Anthony Albanese will be the country’s new prime minister, following incumbent Scott Morrison’s failure to win enough seats for the...

Europe

Moldova’s defenses should be bolstered to help guard against Russian President Vladimir Putin’s vision for an expanded Russia in Eastern Europe, U.K. Foreign Secretary...

Europe

The G7 member countries agreed Friday to ramp up their capabilities to fight future pandemics. “This pandemic will not be the last. We have...

Europe

Press play to listen to this article The pivotal meeting in the global health calendar starts Sunday with representatives from health ministries around the...

Europe

Portuguese Prime Minister António Costa arrived in Kyiv on Saturday morning, where he will sit down with Ukrainian President Volodymyr Zelenskyy to talk about...

Europe

Polish officials are preparing a letter asking the European Commission to redraw its current coronavirus vaccine procurement agreements after an informal meeting of health...