The European Commission plans to maintain sanctions pressure on Russia, preparing an 18th package of EU sanctions against Russia after the approval of the 17th package.

Source:Vice-President of the European Commission and European Commissioner for Economy, Valdis Dombrovskis, announced this at a press conference following the EU Council on Economics and Finance meeting in Brussels, in response to a question from a European Pravda correspondent

Details:Dombrovskis emphasised that the European Commission is committed to imposing new sanctions on Russia, confirming that work on the 18th package will begin once the 17th is adopted.

He affirmed the EU’s readiness to continue pressuring Russia through additional sanctions to weaken its economy.

Discussing potential areas for increased sanctions, Dombrovskis noted that Russia’s primary revenue source is fossil fuel exports.

He highlighted that the EU has already banned Russian coal imports and, in collaboration with G7 partners, has imposed a price cap on Russian oil. Dombrovskis added that the EU is addressing Russia’s use of its shadow fleet to bypass this cap and is implementing a strategy to phase out Russian natural gas imports, further reducing Russia’s income.

However, he acknowledged that as the EU reduces its reliance on Russian fossil fuels, the country is securing other markets.

Despite this, he pointed out that these new buyers pay significantly less than European markets did, underscoring the importance of sustained sanctions pressure.

Polish Finance Minister Andrzej Domański, who currently holds the rotating EU presidency, also emphasised that Russia’s economic prospects are closely tied to hydrocarbon exports.

He expressed Poland’s commitment to intensifying pressure on Russia, both by introducing new sanctions and by strengthening enforcement to prevent circumvention of existing measures.

Background: 

• The European Commission finalised its proposal for the 17th package of sanctions against Russia on Tuesday 6 May, proposing to expand the list of sanctioned individuals and stepping up efforts to counter Moscow's shadow fleet used to bypass Western sanctions.
• European Pravda reports that the 17th package of sanctions may be adopted at the EU Council on Foreign Affairs on 20 May.

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