EU Implements Fresh Russia Sanctions - Germany Faces Criticism
Criticism rolls in as Lithuania's FM, Gabrielius Landsbergis, deems sanctions against Russia as being "less harsh" than anticipated. His Estonian counterpart, Margus Tsahkna, shares similar sentiments, expressing concern over the EU's ability to unanimously agree on new sanctions.
Mostly, this predicament is attributed to Hungary, a nation with close ties to Russia. However, the German government is now standing in the way of stricter measures against bypassing sanctions via third countries. The EU Commission aimed to impose penalties on European companies if prohibited goods found their way to Russia through subsidiaries in countries such as Kazakhstan. Yet, Berlin disagreed, arguing that these measures would hit Germany, the largest EU export nation, harder than Russia itself. Currently, companies are only expected to make "genuine attempts" to thwart sanctions breaches.
As part of the 14th sanctions package since the onset of Russia's aggression conflict in February 2022, the EU is set to curtail trade with Russian liquefied natural gas (LNG) in Europe for the first time. Despite calls for an outright import ban, no such measures are planned. Instead, the reloading of Russian LNG in European ports has been made unlawful. EU investments in Russian LNG projects will also be phased out.
Furthermore, the EU is imposing financial transaction restrictions. The usage of the Russian financial transaction system SPFS by EU companies outside of Russia is now prohibited.
The EU is also expanding its sanctions list, adding 116 individuals involved in the aggression against Ukraine. These individuals will face travel restrictions and have their assets in Ukraine frozen.
