Another series of talks on sanctions against Russia in the EU – no agreement. “Tense atmosphere”

In the opinion of independent analysts, the cut-off from the European raw materials market will be the most serious blow to the Kremlin’s finances. As the Meduza website notes, this is the second month in which less money flows into the Russian state treasury than expected.

The sanctions weaken Russia’s finances. Inflows from oil and gas less than expected

In March, the difference between the assumed and actual impact amounted to 300 billion rubles, i.e. over 4 billion. According to independent experts, the losses would be even greater, but the reduced demand for Russian gas and gas partially compensates for the increase in the prices of these raw materials. In April, however, revenues from oil and gas decreased by 133 billion rubles.

After the Russian army entered Ukraine, the embargo on imports of Russian oil and gas was introduced by the United States. Currently, such a move is being prepared by the European Union.

You can read more about the situation in Russia on the home page

The European Union is considering an embargo on Russian oil. The talks took place in a “tense atmosphere”

A several-hour Friday meeting of EU ambassadors on the sixth package of sanctions against Russia it ended without agreement and took place in a tense atmosphere. Diplomats interviewed by the Brussels correspondent of Polish Radio Beata Płomecka cannot say whether today [w piątek – red.] there will be an evening meeting and whether it is possible to approve further sanctions against Russia.

The most difficult negotiations concern the embargo on oil imports and the exceptions for Hungary, Slovakia and the Czech Republic. The authorities in Budapest continue to reject the Commission’s latest proposal to allow them to buy Russian oil despite the EU embargo until 2024. Slovakia seems to accept this date, as does the Czech Republic, which is to be allowed to buy oil from Russia by mid-2024.

At the ambassadors’ meeting, Poland criticized Hungary, Slovakia and the Czech Republic for the transition periods they demanded in the embargo on imports from Russia, and Ireland criticized Cyprus and Malta for trying to ease sanctions in the maritime sector. One of the EU diplomats – reporting on the course of the discussion – said that it was the sharpest ever, because severe criticism fell on countries demanding exemptions from sanctions. The ambassadors of Poland and Ireland were to emphasize that each country bears the costs associated with the sanctions, but only the most severe in the energy sector can stop the Russian war machine, because it will then be cut off from the main sources of financing.

Negotiations on sanctions against Russia will continue

Despite the protracted negotiations, the president of the European Commission expressed her conviction that an agreement would be reached. During her visit to Barcelona, ​​she also stressed the effectiveness of the existing restrictions. – We are paralyzing the ability of the Russian central bank to increase capital and finance this war. More than 700 international companies have already left Russia, said Ursula von der Leyen.

She also mentioned the suspension of the import of energy resources. A month ago, EU countries agreed to introduce an embargo on coal imports from Russia in August, now negotiations are underway on a deferred embargo on oil imports, while there is still no consent to suspend purchases of Russian gas.

The head of EU diplomacy Josep Borrell announced during his visit to Florence that if there is no agreement by Sunday, he will call an extraordinary meeting of foreign ministers from 27 countries next week.

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