The European Union (EU) decided this Thursday extend for six months all economic sanctions against Russia for the invasion of Ukraine, while proposed a plan of 20,000 million euros to assist kyiv militarily for the next four years
The decision to maintain the sanctions on Russia they represent a commercial disconnection with the country and, in the case of sectors such as energy, a shift in European politics.
Since February 2022, the EU applied to Moscow the largest sanctions package in its historywhich includes restrictions on trade, the finance, the technology and the estate dual use, the industry, he transport and the Luxury articles.
After approving 11 rounds of sanctions, the 27-member bloc also applied a ban on the import and transfer of seaborne crude oil and certain oil products from Russia, as well as sanctions on Russian banks, suspension of the Swift transfer method and suspension of activities in Europe of media outlets affiliated with the Kremlin.
With this measure, the Sanctions will remain in place at least until January 31, 2024according to the Europa Press news agency.
This is only part of the range of penalties that it imposes on Russia for its belligerence against Ukraine, a series of measures that it began to apply in 2014 with the Russian annexation of Crimea.
Also, the block keeps rrestrictions on economic relations with Crimea and the city of Sevastopol, as well as areas not controlled by the Ukrainian government in the Donetsk and Luhansk oblasts, and individual restrictions against nearly 2,000 Russian individuals and entities implicated in violating Ukraine’s sovereignty and territorial integrity.
Multi-billion dollar military assistance plan for Ukraine
In this context, the High Representative of the EU for Foreign Policy, Josep Borrell, said this Thursday at a press conference: “We propose the creation of a dedicated item in the European Peace Mechanism to allocate 5,000 million over the next four years to Defense needs from Ukraine”.
The plan of the head of European diplomacy is to use the same instrument with which the 27 subsidized the supply of arms to Ukraine since the Russian invasion broke out in February 2022.
The figure of 20,000 million euros takes into account the assistance provided so far and the needs of Ukraine in their fight against Russian troops, Borrell explained.
The EU wants to provide kyiv with military assistance in a predictable and sustained manner over timein such a way that Ukraine can maintain the military effort in the face of the Russian invasion.
According to Borrell, the EU wants to “transform support” into a “long-term commitment” with Ukraine, in line with the commitments made by various European countries within the framework of the G7 and which was one of the main results left by the summit in NATO in Lithuania a week ago.
In any case, it is hoped that the debate will continue and the bloc’s Foreign and Defense ministers will be able to make progress on the proposal during the informal meeting in Toledo, Spain, on August 29, with a final decision for the month of October, when bring together European leaders in the European Council.
European sources said that the plan was welcomed by the majority of Member Stateswith the exception of Hungary, the country that is most reticent about plans to send arms to Ukraine.
It remains to be seen what form the aid will take, as there are EU countries that consider it better to design a specific fund for Ukraine apart from the European Peace Mechanism, added a diplomatic source on the initiative.
Source: Ambito
