EU sanctions policy against Russia could change dramatically — FT
Photo: Europe is looking for new ways to apply sanctions pressure on Russia (Getty Images)
The European Union’s large-scale sanctions packages against Russia may become a thing of the past. Brussels wants to abandon its long-standing strategy, according to the Financial Times.
According to insiders, the EU wants to reconsider its approach to imposing sanctions against Russia after Greece blocked the adoption of the 21st package of restrictions for several weeks.
Moreover, another third of the bloc’s member states have put forward their own demands. This has significantly slowed down the process and called into question the approval of sanctions in general.
Anonymous sources claim that instead of preparing large sanction packages, they may be developed and advanced in small thematic groups.
This approach would help reduce the risk of a single country blocking the entire package due to its own economic interests.
It is quite possible that the 21st package of sanctions against Russia, adopted last week, may be the last of its kind.
One insider says it is now clear that this approach no longer works.
New EU sanctions against Russia
On July 23, the EU Council adopted new sanctions against Russia—the most extensive restrictions in the past four years.
The new 21st package includes 48 individuals and 170 organizations. Furthermore, the EU has suspended the automatic adjustment of the oil price cap mechanism.
Recently, the head of European diplomacy, Kaja Kallas, explained exactly how the new restrictions will work.
In addition, European Commission President Ursula von der Leyen revealed one of the key strengths of this package.
Earlier, RBC-Ukraine reported on why it took so long to adopt the new sanctions.
