EU drafting new sanctions package against Russia, Estonia FM says
Photo: Margus Tsahkna (Getty Images)
European Union countries have begun preparing a new, 21st package of sanctions against Russia. Energy resources will be the main focus of the new economic restrictions, according to Estonian Foreign Minister Margus Tsahkna.
"The most critical, without a doubt, are the upcoming sanctions packages. The 20th sanctions package has been adopted, the 21st is being prepared, and it will be quite tough, especially regarding energy resources," the Estonian Foreign Minister states.
As Tsahkna notes, in the context of the war in Iran, the United States has, on the contrary, eased pressure on sanctions against Russia and, in effect, against India, through which this also affects Russia.
"These developments cannot be called positive at this time," the Foreign Minister emphasizes.
Sanctions against Russia and their consequences
On April 25, the European Union imposed a ban on the purchase of Russian liquefied natural gas (LNG) on the spot market. This decision was made against the backdrop of the war in Iran and instability in energy markets.
Earlier, Ukraine also stepped up efforts to limit the aggressor’s energy revenues.
Ukrainian Ambassador to the US Olha Stefanishyna called on the Donald Trump administration to reinstate tough sanctions against Russian oil, emphasizing that this would benefit not only Ukraine but also the United States in curbing the influence of Russia and Iran.
Furthermore, according to Bloomberg analysts, the Russian economy is currently in critical condition. Despite temporary spikes in energy prices due to military actions in the Middle East, windfall profits from oil are no longer capable of saving Russia from recession due to deep structural problems and the consequences of international isolation.
