Asger Risom
European Union leaders agreed to renew sanctions against Russia for another six months during a summit in Brussels, reaffirming their collective stance against the war in Ukraine.
As Russia’s war in Ukraine drags into its third year, the European Union is doubling down on its efforts to tighten economic pressure on Moscow.
At a summit in Brussels, EU leaders debated the future of their sanctions strategy while navigating growing internal disagreements.
European Union leaders agreed to renew sanctions against Russia for another six months during a summit in Brussels, reaffirming their collective stance against the war in Ukraine.
The decision extends measures that have been in place since Russia’s full-scale invasion in February 2022.
The EU has adopted 17 sanction packages so far, targeting financial institutions, energy exports, and military-related goods.
Renewal requires unanimous approval from all 27 member states, and Hungary has often threatened to block them.
New Sanctions Face Slovakian Veto
While the extension of existing sanctions passed, talks on a proposed 18th sanctions package stalled due to a veto from Slovakia.
Prime Minister Robert Fico is reportedly using the move to pressure the European Commission for guarantees on Slovakia’s gas supplies, as the EU works toward ending Russian gas imports by 2027.
The new package includes a proposed cut in the oil price cap from $60 to $45 per barrel, as reported by Digi24.
However, with current oil prices significantly higher, the effectiveness of such a cap remains in question.
Cracking Down on Russia’s ‘Ghost Fleet’
Russia has built a so-called “ghost fleet” of over 500 tankers to bypass EU restrictions on oil exports.
In response, the EU aims to blacklist an additional 70 ships, adding to the 342 already identified.
Other measures in the proposed package would expand bans on refined petroleum imports and add 22 more Russian banks to the list of institutions blocked from international capital markets.
The EU also seeks to sanction non-EU companies, including Chinese firms, accused of helping Russia circumvent existing restrictions.
Despite internal friction, the EU maintains that sanctions are a vital tool in reducing Moscow’s revenue streams, particularly from energy exports, which help fund its war efforts in Ukraine.
