Slovak Prime Minister Robert Fico said on Thursday that his country will end its blockade of a new EU sanctions package against Russia.
Slovakia had been holding up the 18th EU sanctions package against Russia over concerns regarding a separate EU plan to stop gas imports from Russia beginning in 2028.
Fico: ‘Counterproductive’ to continue blockade of EU sanctions
Any new sanctions package requires unanimous approval from all 27 EU member states.
“At this point, it would be counterproductive to continue blocking the 18th sanctions package tomorrow,” Fico said in a video posted on Facebook. He said Slovakia received guarantees from the EU pertaining to gas prices and supply.
Fico also said “further dialogue is needed” to ensure Slovakia’s energy security.
EU ambassadors are expected to meet on Friday to finally greenlight the package. Previous attempts to pass the new sanctions failed during a meeting of EU foreign ministers in Brussels earlier this week.
What are the details of the 18th EU sanctions package on Russia?
The 18th EU sanctions package targets Russia’s energy and banking sectors.
The sanctions would prohibit EU operators from using the Russian Nord Stream pipelines that extend from Russia to Germany. The measures would also decrease the oil price cap from $60 (€52) to $45 per barrel.
Exports of oil and gas is a major boon for the Russian economy, with EU countries seeking to reduce or phase out their reliance on Russian fossil fuels since the Moscow’s full-scale invasion of Ukraine began in February 2022. Germany ended direct imports of Russian gas in the summer of 2022.
The latest round of sanctions aims to cut almost two dozen Russian banks from the SWIFT international payment system, further isolating the Russian financial sector. The measures will prohibit transactions to financial entities in third countries which defy sanctions and facilitate commerce with Russia.
The sanctions will also target further vessels which are part of Russia’s “shadow fleet” used to move Russian oil.
Edited by: Dmytro Hubenko
