EU prepares way to circumvent Hungary's veto on sanctions against Russia - FT
Photo: The European Union is preparing to override Hungary's veto (Getty Images)
The European Union is preparing to circumvent Hungary's possible veto on the extension of economic sanctions against Russia in response to its war in Ukraine. In particular, by introducing capital controls and trade tariffs, the Financial Times reports.
According to the Financial Times, citing five informed officials, Brussels is considering legal mechanisms that would allow sanctions to be extended without the unanimous approval of all member states.
Frozen Russian assets worth 200 billion euros, mostly in Belgium, are at risk. The European Commission is considering transferring these restrictions to a different legal basis.
This includes the introduction of capital controls and tariffs, which do not require the unanimous support of all 27 member states.
The reason for these actions was Hungarian Prime Minister Viktor Orbán's threats to block the extension of the current restrictions, which expire at the end of July.
The new 17th package of sanctions, including those against companies in China and third countries, is expected to be introduced early next week.
In addition, the commission plans to ban new gas contracts with Russia and prepare proposals for duties on enriched uranium to reduce energy dependence on Moscow.
However, some diplomats are concerned about the legal risks of such measures.
Sanctions against Russia may be strengthened
On May 8, Ukrainian President Volodymyr Zelenskyy had an important phone conversation with US President Donald Trump. After the conversation, Trump stated in his blog on the Truth platform that if Russia violates the ceasefire, the United States, together with its partners, will impose new sanctions.
This position was also supported by German Chancellor Friedrich Merz, who said on May 9 that a ceasefire is a prerequisite for a real peace treaty. Otherwise, according to Merz, Russia should be prepared for new sanctions.
At the same time, Poland is actively working on the approval of the 17th package of EU sanctions against Russia, which should be adopted by July 1. The new package includes restrictions on the export of chemicals and sanctions against Russian companies.
Hungary blocks Ukraine's accession to the EU
Hungary is blocking the start of negotiations on Ukraine's accession to the European Union. Hungarian Prime Minister Viktor Orbán has repeatedly stated that he does not support Ukraine's membership in the EU.
He also organized a poll for Hungarians to find out their opinion on Ukraine's accession to the EU.
In April, the Hungarian opposition party Tisza presented the results of its poll. According to its results, 58% of the country's residents support Ukraine's accession to the EU. More than 1.1 million people took part in the survey.
Orbán also called Ukraine's accession to the EU economic suicide.
According to EU top diplomat Kaja Kallas, the European Union has an understanding of how to proceed if Hungary's veto on Ukraine's accession is not overcome. Plan B and Plan C are being considered.
