The European Union aims to agree on the 21st package of sanctions against the Russian Federation by the end of next week, Politico reports, according to UNN.
Details
"As Russia ramps up threats to Europe, the bloc is rushing to agree on the 21st sanctions package by the end of next week," the publication states.
"On the menu? New measures targeting Russian oil revenues, banks, and the shadow fleet," three EU diplomats and officials said.
The proposed sanctions, expected to be presented by the European Commission next week, show that Brussels is doubling down on its strategy of pressure on Russia rather than seeking negotiations, despite some leaders' calls to appoint a "special envoy" for peace talks, the publication writes.
"It is believed that Ukraine could be in a stronger position after the summer. Appointing a special envoy at this stage could undermine efforts to pressure Russia just as Ukraine is turning the war in its favor," one official said.
As noted, "the key proposal is to lock in the price cap on Russian oil." "The current limit is set to expire this summer and would be adjusted upwards according to an automatic mechanism unless action is taken," the publication notes.
"Countries are pushing to fix the current price, which would deprive Moscow of higher revenues due to rising oil prices. However, a full ban on Russian oil is unlikely to be introduced, as is the proposed ban on services for maritime shipments," diplomats stated.
Reuters, citing EU diplomats, noted that the European Commission may propose keeping the G7 price cap on Russian oil unchanged at $44 per barrel during its July review to curb Moscow's windfall profits from the war with Iran and the subsequent oil price shock. The European Commission reportedly voiced this idea at meetings with EU envoys last weekend as a possible element of the upcoming 21st package of sanctions against Russia for its war in Ukraine. G7 countries and allies, excluding the US, agreed last year to set a flexible price cap to make it more effective. Countries lowered the price from $60 per barrel to $47.60 to reflect lower average oil prices, and in January, they revised the price down to $44.10.
As Politico writes, citing notes from sanctions negotiations, "the EU may proceed with imposing sanctions against Russian energy companies Lukoil and Rosneft, while new sanctions against vessels of the Russian shadow fleet and auxiliary services are expected."
The publication also points to the "possible inclusion in the list of Patriarch Kirill of Moscow, the head of the Russian Orthodox Church, who is close to Vladimir Putin." A previous move to impose sanctions against the patriarch was blocked by Hungary.
"The bottom line is that the EU has chosen between negotiations with Moscow and sanctions. Sanctions first, negotiations later," Politico concludes.
Ukraine's Position
"We expect restrictive measures to be extended to additional vessels of the shadow fleet and its broader ecosystem," Ukraine's Ambassador to the EU Vsevolod Chentsov told the publication. He added: "It is time to address the issue of Rosatom" — the Russian nuclear energy agency, "which Kyiv says is an extension of Putin's war machine."
Meanwhile, Foreign Minister Andrii Sybiha, commenting on another overnight Russian shelling, stated that it is necessary to increase pressure on Russia through new sanctions, travel bans for combatants, full use of frozen assets, and isolation. He also indicated that partners should use the unblocked European Peace Facility to fund the PURL program and purchase additional Patriot systems and missiles for Ukraine, and called on partners to promote an anti-ballistic coalition as well as increase investments in Ukraine's long-range capabilities as concrete steps to counter Russian terror. Foreign Minister Andrii Sybiha, emphasizing the need for a tough response to another massive Russian attack, stated that partners must take strategic steps that are long overdue, including opening negotiation clusters regarding Ukraine's accession to the EU.