Slovakia gives
EU agreed on a new sanction package against Russia
The EU has enough of Russia’s tactics. New sanctions are imposed in order to advance peace efforts for Ukraine. It is also about Nord Stream.
The EU imposes new sanctions due to the continuing Russian attack war against Ukraine. Representatives of the Member States in Brussels agreed in Brussels through the Slovakia to adopt the 18th package with punitive measures, as several diplomats of the German Press Agency confirmed.
In particular, the Russian income from the export of oil in third countries should further reduce and make the Russian financial sector. In addition, sanctions are intended to rule out a conceivable restoration of the north stream 1 gas pipeline and use of the Nord Stream 2 pipeline.
Three of the four tubes from Russia to Germany were destroyed in an attack in September 2022. In the event of a repair, the Pipelines Russia running through the Baltic Sea could enable billions in profits by selling gas.
Veto of Slovakia delayed sanction package against Russia
The agreement on the sanction package was supposed to take place immediately after the Juni summit of the heads of state and government. The Slovak Prime Minister Robert Fico, however, prevented this with a veto threat.
The agreement was now made possible by concessions. Slovakia was guaranteed that it does not have to fear any serious economic and financial consequences if, according to the new sanction package, a plan for a complete import stop by Russian gas is also implemented. Fico cannot block this plan because, in contrast to the sanction package, it can also be decided against the will of Slovakia by majority.
Oil price lid is dynamically adjusted
In addition, Malta, Greece and Cyprus recently had concerns about measures that the Russian income from exporting crude oil in third countries. The countries feared unjust large disadvantages for domestic shipping companies if the so -called oil price lid is reduced too much. As a compromise, it has now been agreed to regularly adjust the price limit, so that it is not more than 15 percent below the average market price in the long term. In a first step, it is to be reduced from the current 60 to $ 47.60 per barrel (159-liter barrel).
Originally planned to reduce the price lid for Russian oil to $ 45 per barrel. It applies to the sale of Russian oil in third countries such as India, China or Turkey and was introduced in 2022 together with the USA and Japan, Canada and Great Britain.
In order to enforce it, companies are threatened to threaten sanctions that are involved in the transport of Russian oil at a price below the price lid. This regulation aims at shipping companies, but also on companies that offer insurance, technical help as well as financing and placement services.
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Long list of new sanctions
In addition to the above measures, the following was also agreed according to DPA information:
- Introduction of an import ban for refined products from Russian crude oil. These are, for example, fuels for cars and aircraft and heating oil. This is intended to conclude a legislative gap that has previously enabled Russia indirect exports via third countries.
- Introduction of a ban on financial transactions with companies from third countries that avoid oil-related sanctions.
- List of more than 100 ships that are part of the so -called Russian shadow fleet to circumvent energy rates. In the future, they will no longer be allowed to enter ports of EU countries and may no longer be insured, financed or equipped by European companies. A total of around 450 ships will be affected in the future.
- List of additional 22 banks that are decoupled from the Swift financial communication system; In addition, expansion of the punishment to a complete ban on transactions.
- For the first time, ban on transactions with two Chinese financial institutions that hinder EU sanctions; In addition, sanctioning several Chinese companies that directly support Russia’s war of aggression.
- Introduction of further export restrictions; Machine tools that can be used in the military-industrial system are affected.
- Extension of the list of sanctioned individuals, companies and organizations by more than 50 entries. In the future, it will include more than 2500 entries.
How hard do the Russia sanctions hit?
The effectiveness of Russia sanctions is now controversial. Critics doubt that they have a great influence on Russia’s President Vladimir Putin’s policy. Supporters, on the other hand, point out that the punitive measures have to come up with the Russian economy and the state had to cope with considerable loss of income. Accordingly, Russia would have long ended the Ukraine War without the sanctions for a long time.
The formal ministerial council decision for the new sanction package should take place during the day. The punitive measures would then come into force a little later.
Dpa
RW/Ansgar Haase
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
