English Section

EU to ease sanctions on Russia?

04.04.2022 14:30
The European Commission's newest set of proposed punitive measures against Russia could actually soften the sanctions burden on Moscow instead of making it more painful, according to a report.
The headquarters of the European Commission in Brussels, Belgium.
The headquarters of the European Commission in Brussels, Belgium.PAP/Marcin Obara

The European Union’s executive arm outlined the new sanctions plan at the weekend, Poland’s PAP news agency reported.

It comes after European Commission President Ursula von der Leyen announced on February 24 that there would be “painful new sanctions” against the Kremlin for its attack on Ukraine, the Polish state news agency said. 

Meanwhile, a number of member states, including Poland, have expressed their disappointment with the new plan, calling the proposed restrictions “cosmetic,” according to PAP.

‘Cosmetic, unacceptable measures’

Among other proposals, the EU executive seeks to lift sanctions on several products and services, such as spare parts to luxury cars, up-market goods and the supply of fuel to nuclear power plants, the news agency reported, quoting diplomatic sources.

Moreover, the new package would not include sanctions on Russian energy imports, such as oil, coal and gas, nor would it restrict transport, it said.

Member states opposed to the plan have pointed out that existing EU sanctions are “weak,” according to PAP.

The Russian economy has rebounded and the energy giant Gazprom is making record profits, with daily sales of around EUR 900 million, the news agency reported, citing diplomats it did not name.

These countries have called the new package "symbolic," "insufficient," and “unacceptable,” while appealing for “serious sanctions” on Russian energy as well as sea and road transport, according to PAP.

Meanwhile, Germany is arguing that tougher sanctions would hurt its economy, while the likes of Italy are also sceptical of sharpening the punitive measures against Russia, PAP reported.

The European Commission is expected to officially unveil its sanctions proposal later this week.

Monday is day 40 of the Russian invasion of Ukraine.


Source: PAPbusinessinsider.com.pl