EU imposes fresh sanctions on Russia; Slovakia complies with measures
Russian Sanctions in Europe: A Tough Road Ahead
EU's tough measures against Russia's banks and energy companies are hitting a brick wall. Slovakia and Hungary, the EU's most pro-Kremlin countries, are wielding their veto power to block these sanctions. The proposal requires unanimous approval from all 27 member states.
Slovak Prime Minister Robert Fico announced on Tuesday that he would not back any move to curb Russia's earnings used to finance its war in Ukraine. "If the European Commission doesn't offer a viable solution for Slovakia's impending crisis resulting from a complete halt of gas, oil, and nuclear fuel supplies from Russia, I'm against it," said Fico, according to Politico.
Parliament's Blockade Approval
On Thursday, the parliament in Bratislava approved, by a narrow margin, a resolution urging government representatives to vote against future sanctions. These measures would harm Slovakia's economy, stated the reasoning. However, the resolution was non-binding.
So far, Fico has been vocal in criticizing EU sanctions, claiming they hurt Slovakia more than Russia. Unlike Hungary's prime minister Viktor Orbán, Fico, along with other Slovak government officials, has always ultimately voted in favor of all sanctions decisions against Russia despite their criticism. For this, Bratislava, along with Hungary and initially the Czech Republic, received an exemption from the EU's sanctions regulations, set to expire with the forthcoming new sanctions package.
Similarly, Orbán has repeatedly expressed his intention to veto additional EU sanctions on Russian energy supplies, including the recent ones.
EU Intends to Target Nord Stream and Shadow Fleet
The EU Commission unveiled a proposal for its 18th sanctions package against Russia on Tuesday. Key suggestions include lowering the oil price cap from $60 to $45 per barrel and banning the use of Russian energy infrastructure, including the two Nord Stream pipelines to Germany. New sanctions are also planned against the so-called Russian shadow fleet.
Poland, currently holding the rotating EU presidency, aims to adopt the package before the presidency passes to Denmark on July 1. This means EU countries will need to reach an agreement before the June 27 meeting of heads of state.
Background Information:
- Energy Dependence: Slovakia relies on Russian fuel to operate its nuclear power plants, and any interruption in these imports could adversely impact its energy supply. Hungary and Slovakia have continued to import Russian crude oil with an exemption granted by the EU, intended to allow them time to reduce their reliance on Russia.
- Economic Impacts: The Slovak parliament passed a non-binding resolution urging the government to oppose new sanctions due to economic implications, such as increased energy prices and disruptions to supply chains. Similar concerns have been raised in Hungary.
- Political Positions: Slovakia's stand is motivated by Prime Minister Fico's emphasis on defending national interests, particularly in response to the EU's plans to phase out Russian energy imports by 2027. Hungary, under Prime Minister Orbán, has been skeptical of EU sanctions and frequently obstructs or delays them.
Implications: These vetoes could lead to the delay or alteration of EU sanctions packages, as all member states must agree on such measures. The EU has warned that blocking sanctions might result in reductions in EU funding for countries like Hungary and Slovakia.
- The policy-and-legislation of new EU sanctions against Russia's energy infrastructure, including the Nord Stream pipelines, is facing obstruction due to the veto power of Slovakia and Hungary, the EU's most pro-Kremlin countries.
- Amidst the ongoing Russian Sanctions in Europe, political news focuses on the economic and social policy implications for Slovakia and Hungary, especially their opposition to the sanctions due to potential harm to their economies and energy supplies.
