Germany Holds Off on Implementing Fresh Sanctions Against Russia
There's a delay in implementing a fresh EU sanctions plan against Russia, according to diplomatic sources. Next Friday, the permanent representatives of EU member states in Brussels will deliberate on a new Belgian draft of the EU Council Presidency concerning punitive actions. Nonetheless, other countries are pressuring the German government to abandon its objections, potentially yielding the green light for the sanctions prior to the Switzerland peace summit over the weekend.
Earlier, the EU had intended to impose the 14th round of sanctions against Russia before the G7 summit in Italy. However, this didn't happen due to German objections. Officially, there's no information about the German government's concerns.
According to a diplomat, there's a link to the Russian banking network SPFS, which is affected by the new package. Apparently, the German government is worried about negative consequences for German institutions. Since Russia was expelled from the worldwide payment system SWIFT as part of previous EU sanctions, the country has relied more on SPFS.
The sanctions package encompasses various measures against bypassing sanctions. Regarding Russian liquid gas, restrictions are planned for the first time. However, the European Parliament's proposal of a ban on importing liquid gas (LNG) isn't considered.
The EU plans to outlaw two actions: Shipping Russian LNG in European ports for further transport to Asia, and European investments in liquid gas projects in Russia, such as those in Murmansk, north of the Arctic Circle.
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The Federal Government of Germany is currently facing pressure from other countries to lift its objections towards the EU's sanctions plan against Russia, aiming to implement the new sanctions before the Switzerland peace summit. Despite Russia's expulsion from SWIFT and reliance on the SPFS banking network, the German government expresses concerns about potential negative impacts on German institutions if the new package is enforced.
