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Slovakia and Malta currently blocking 18th sanctions package against Russia

eurointegration.com.ua

Slovakia and Malta currently blocking 18th sanctions package against Russia

Two European Union member states – Slovakia and Malta – are currently not supporting the adoption of the EU’s 18th package of sanctions against Russia.

One of the EU diplomats familiar with the ongoing discussions on sanctions against Russia to a European Pravda reporter said that during the Coreper (the EU Committee of Permanent Representatives) meeting on 13 July, the discussion on the 18th sanctions package lasted several hours. Slovakia continues to insist on its position: it will block sanctions against Russia until it receives guarantees from the European Commission that it will not suffer losses after the EU fully phases out Russian gas by 2028.

Malta has also opposed the package. The country objects to lowering the price cap on Russian oil.

Another diplomat said that Malta, like Greece and Cyprus, is a country with a large tanker fleet, and its economy relies on oil transportation. That is why these countries did not support the idea of lowering the price ceiling on Russian oil. Only Malta insisted on rejecting the proposal at the meeting of EU ambassadors on Sunday.

The European Commission is now proposing a dynamic oil price cap mechanism for Russian crude. Under the proposal, the cap would be set at 15% below the average market price over the past three months and updated every six months.

Reuters reported that EU ambassadors are close to reaching an agreement on the 18th sanctions package against Russia for its full-scale invasion of Ukraine, which would include lowering the oil price cap.

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