EU's 21st Russia Sanctions Package Stalled as Greece and Austria Raise Demands.

Sanctions Package Against Russia

According to Espreso.tv: The European Union has nearly finalized its 21st sanctions package targeting Russia, but approval is being held up by objections from Greece and Austria. Greece is pushing for the right to re-export Russian liquefied natural gas until the end of 2027, while Austria is demanding that sanctions be lifted from an investment firm linked to Oleg Deripaska. The package needs urgent approval to maintain the current price cap on Russian oil, set at $44.1 per barrel.

Hurdles in the Approval Process

The 21st sanctions package was designed to be one of the toughest yet. However, as Tetiana Vysotska noted,

'approving the package is urgent because the current price cap on Russian oil must be preserved.'

'Austria raised these same demands back in the fall of last year, but at that time, most EU countries did not support them.'

The European Commission plans to explore alternative legal mechanisms to implement the measures if they cannot be included in the sanctions package. Tetiana Vysotska also reported that 'the 21st sanctions package could be approved today at the level of EU ambassadors.' As part of this package, the EU has imposed sanctions on 15 individuals and one Russian penitentiary facility. According to Kaja Kallas, 'certain points of the package may be changed,' which could affect the final decision.

The delays in approving the 21st sanctions package highlight the complexities of EU internal politics, where individual member states can push their own demands even when it comes to joint measures against Russia. This shows that amid global threats like the war in Ukraine, the political interests of specific countries can influence the speed and effectiveness of the European Union's sanctions policy. At a time when the Russian economy is under pressure from international sanctions, maintaining the oil price cap is critical to supporting stability in the region.