EU postponed presentation of 19th package of sanctions against Russia after Trump's demands - Bloomberg
Kyiv • UNN
The European Union has postponed the official introduction of another package of sanctions against Russia after US President Donald Trump demanded stricter European measures as a condition for the US to proceed with its own sanctions.
The European Union will postpone the official submission of the next package of sanctions against Russia after US President Donald Trump demanded stricter European measures as a condition for the US to move forward with its own sanctions, Bloomberg reports, citing a European diplomat, writes UNN.
Details
The European Commission, the EU's executive body, was due to submit the proposal, the 19th, on Wednesday. On Friday, the US pressured its G7 allies to impose tariffs of up to 100% on Chinese and Indian purchases of Russian oil, and to take other measures to push Kremlin leader Vladimir Putin to the negotiating table with Ukraine.
G7 officials are currently working on a new package of sanctions and plan to finalize its text within the next two weeks, a source familiar with the situation, who wished to remain anonymous, said.
As Bloomberg previously reported, the EU is considering imposing sanctions against companies in India and China that facilitate trade in Russian oil.
Over the weekend, Trump said he was ready to impose "serious" sanctions on Russian oil if European countries did the same. Chinese and Indian purchases of Russian energy play a significant role in financing Putin's war with Ukraine, the publication notes.
The US proposal, as stated, also targets Russian oil companies and networks that allow Moscow to transport oil and profit from trade.
The US proposal puts the ball in Europe's court, the publication points out. Tariffs for India and China would be difficult for the EU, as many countries, including Germany, depend on these export markets. However, some of Trump's demands were already part of the bloc's plans. The EU postponed the phase-out of Russian gas until 2027 and granted landlocked countries such as Hungary and Slovakia temporary exemptions from its oil sanctions against Russia. However, the share of Moscow's oil in EU imports fell to about 3% last year from 27% before the war after sanctions came into force in 2022.
The EU's 19th package of sanctions against Russia is expected to cover about half a dozen Russian banks and energy companies, as well as Russian payment systems and credit card systems, cryptocurrency exchanges, and additional restrictions on oil trade in the country, Bloomberg previously reported.