Greece explains why it opposes the EU's new Russia sanctions
Greek Prime Minister Kyriakos Mitsotakis (photo: Getty Images)
The Greek government does not support the EU's proposed 21st package of sanctions against Russia, arguing that a ban on exports of Russian gas to third countries could weaken the position of European companies, Reuters reports.
The Greek government told media outlets that any new package of sanctions must be carefully balanced.
According to Athens, it should not only maximize pressure on Moscow but also minimize "unintended consequences for European businesses, consumers, and competitiveness."
Greek officials believe the 21st sanctions package could result in Europe losing entire sectors of its economy.
Moreover, Athens warns that Brussels could cede market share to companies from countries outside the European Union.
"Sanctions should erode Russia's economic capacity — not create strategic windfalls for others at Europe's expense," one source said.
In addition to Greece, Bulgaria and Austria are also blocking the EU's new package of sanctions against Russia.
As a result, the Committee of Permanent Representatives of the European Union (Coreper) failed to approve the 21st package on July 15.
Discussions are continuing, and EU member states have decided to postpone a decision on lowering the price cap on Russian oil until at least July 23.
The debate over sanctions comes as Latvia's prime minister has accused some European countries of profiting from the Russia-Ukraine war.
Separately, reports have emerged that Russian billionaires are urgently moving their money out of the country, while the proposed "bone-crushing sanctions" against Russia are once again in doubt because of President Donald Trump's position.
