The European Commission has proposed including additional measures against Belarus and sanctions targeting software used by Russian banks in the draft of the EU’s 18th sanctions package against Russia. The updated draft is expected to be finalised by the end of the week.

Source: European Pravda

Details: Several diplomats from key EU member states, speaking on condition of anonymity, told European Pravda that the Commission presented targeted amendments to the sanctions package during the 16 June meeting of the Committee of Permanent Representatives (Coreper).

One of the diplomats said that the amendments mainly relate to financial services software and measures concerning Belarus, revealing that additional amendments will also be developed and presented to Coreper later this week.

Another diplomat added that EU member states had proposed further measures to prevent sanctions circumvention, sanctions targeting Russian companies involved in cryptocurrency markets and restrictions on the movement of Russian diplomats within the EU.

The diplomat added that Coreper will return to discussions on the 18th package later this week. Member states appear to be close to reaching a compromise. However, there is still a large volume of technical work ahead, so the sanctions are unlikely to be adopted this week.

Commenting on the positions of Hungary and Slovakia, who have threatened to block the package unless issues related to the consequences of cutting off Russian gas and energy supplies are resolved, the source said that many member states raised the issue of energy security.

Background:

• The 18th sanctions package currently includes a proposal to lower the oil price cap on Russian crude from US$60 to US$45 per barrel.
• European Commission President Ursula von der Leyen previously stated that such a decision must be made jointly with G7 partners and will be discussed at the upcoming G7 summit in Canada.
• It has since emerged that the EU will not unilaterally lower the cap, as the G7 is unlikely to support the initiative.

Support Ukrainska Pravda on Patreon !