The EU ambassadors are expected to adopt the 18th package of sanctions against Russia today. Slovakia lifted its blockade, as Prime Minister Robert Fico confirmed on Thursday.
Slovakia had previously opposed the EU’s proposal to gradually phase out gas imports from Russia due to national interests. The sanctions aim to end Russian gas imports completely by 2028. Slovakia had sought an exemption until 2034. Because EU sanctions require unanimous approval by all 27 member states. Slovakia was the last member to block the proposal.
“At this stage, it would be counterproductive to continue blocking the 18th sanctions package tomorrow,” said Fico in a video message posted on social media. The EU had given Slovakia guarantees on the stability of gas prices and supply, he continued. However, “further dialog is also needed” to ensure the country’s long-term energy security.
The new sanctions package targets Russia’s energy sector. EU operators will not be allowed to use the Nord Stream pipelines in the Baltic Sea. In addition, the oil price cap will be lowered from $60 to $45 per barrel. Furthermore, more than 20 Russian banks are to be excluded from the SWIFT international payment system as a result of the new package, further isolating the country financially.
More than 100 other ships belonging to the Russian shadow fleet are also added to the EU’s sanctions list. These vessels are banned from EU ports and cannot be insured or financed by European companies. The list now includes about 450 entries. The EU last added more ships to the list in May.
The new sanctions are designed to weaken Russia’s energy-dependent economy, which funds its war efforts in Ukraine. Since Russia’s invasion in February 2022, the EU has been working to reduce its energy dependence on Moscow. Germany, for instance, ended direct Russian gas imports in the summer of 2022.
