EU countries failed to reach agreement on new broads penalties the Russia Wednesday night, as, according to Politico, Greece blocked the measures to protect its maritime fuel transport industry.
Wednesday's negotiations, concluded after 19:30, were the last of a series of efforts to reach the consensus needed for the new energy and trade measures against Russia, which aim to deprive Moscow of resources to finance its war in Ukraine. The package had been presented in June, but discussions on details have been extended, while some of the original measures, such as the ban on imports of Russian seafood and restrictions on visas for Russian soldiers, have been significantly reduced.
As Politico notes, Athens remains unrelenting with regard to the proposed ban on EU companies from transporting Russian gas to consumers outside the Union, arguing that the measure goes beyond what the leaders had previously agreed and that in practice transport will continue, with ships simply changing flags or re-registration in other countries.
The ambassadors will hold an additional round of negotiations Thursday morning, in an attempt to save the package, an EU diplomat confirmed.
Ireland, which holds the rotating Presidency of the EU Council, proposed on Wednesday that European gas tankers be allowed to export Russian liquefied natural gas (LNG) to third countries by January 2029. The proposal, which Politico saw, raised a ceiling on Russian exports and also prohibited the conclusion of new contracts.
However, he notes Politico, the Greek government has so far rejected the compromise and is calling for an exception without a time limit, as stated by three European diplomats involved in the negotiations and who spoke on the condition of anonymity. The Greek shipping company Dynagas is one of the few companies that have ships reinforced for ice sailing, capable of approaching Russia's LNG terminal in the Arctic Ocean. If the EU prohibits its companies from transporting Russian gas, the Greek government argues that ships will simply transfer their registration to other countries, which will restrict supervision by the European Union.
The Greek merchant fleet, with more than 5,000 ships, carries about one fifth of the world's cargo in terms of weight, more than any other country. Greece also has the largest fleet of LNG transport ships in the world in terms of capacity.
The delay also means that the EU's ceiling on Russian oil markets should be extended again for a short period of time. Russian oil can only be sold at a price significantly lower than market price, but rising energy prices due to the Middle East war would lead to a recalculation of the $44.10 per barrel limit, allowing the Kremlin to make unexpectedly large profits.
As sanctions require unanimity among the 27 EU member states, governments can use their consent as negotiating paper, asking for exchange or other concessions, comments Politico. Former Hungarian Prime Minister Victor Orban, for example, was known for his frequent blockages in respective support decisions to Ukraine, although European leaders hope Budapest will appear more cooperative under his successor, Peter Mayar.
The original proposal for the package of sanctions – the 21st since Russia invaded Ukraine – included restrictions on the movements of former members of the Russian armed forces, the imposition of sanctions on dozens more banks and the ban on entry into the EU to an additional 250 people.
The delay brings the negotiations to a minimum of five and beyond the originally planned timetable for legislative work, as Wednesday's meeting was originally to be the ambassadors' last meeting before August's summer break. The evening session also included a farewell dinner for fellow changers, before diplomats returned to work in September after the break.
Source: skai.gr
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