New approach under consideration: EU prepares to abandon large sanctions packages against Russia

The European Union is considering abandoning the practice of adopting large packages of sanctions against Russia. Brussels is discussing a move to introducing individual or small thematic sanctions to make them more difficult for individual countries to block.

This is reported by the Financial Times .

According to the publication, the reason for the revision of the sanctions strategy was the delay in adopting the 21st sanctions package, which Greece had blocked for several weeks.

Brussels is discussing the possibility of adopting sanctions individually or in small thematic groups rather than in large packages. One of the sources said that the 21st package of sanctions, adopted last week, could be the last in this format.

“It is now quite obvious that this approach no longer works,” the source said.

As the publication notes, Greece refused to support the new sanctions package until the EU allowed Dynagas ships to continue transporting Russian liquefied natural gas to countries outside the European Union.

In the end, EU countries reached a compromise. Companies were temporarily allowed to fulfill only those contracts for the transportation of Russian liquefied natural gas that were concluded before February 24, 2022, while prohibiting any expansion of such supplies for European operators.

It is noted that this is the first time that the European Union has actually relaxed already agreed economic sanctions against Russia. Some EU diplomats criticized Greece’s position, saying that the country has made the entire sanctions package hostage to its own demands.

At the same time, Greece said that the ban on the transport of Russian liquefied natural gas was adopted in error. Athens believes that it would primarily harm Greek companies, not the Russian economy, while creating advantages for shipping companies from China and other countries.

Recall that the Committee of Permanent Representatives of the European Union (Coreper) reached a political agreement on the 21st package of sanctions against Russia .

It was previously reported that on July 15 and 22, EU countries failed to reach an agreement on the 21st package of sanctions. The main obstacle remained the position of Greece , which insisted on extending the permit for the re-export of Russian liquefied natural gas to third countries.

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