The European Parliament’s plenary session in Brussels on Thursday discussed further strengthening EU sanctions against Russia, with the aim of curbing the sources of funding for the war against Ukraine, was discussed on Thursday by the European Parliament’s plenary session in Brussels, with representatives from the Council and the Commission referring to the preparation of new measures.
The Minister of State at the Department of Further and Higher Education, Research, Innovation, and Science of Ireland, Marian Harkin, stated on behalf of the Council that Russia is intensifying its attacks on civilians and non-military infrastructure in Ukraine, including energy facilities, transportation networks, hospitals, and schools.
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As he said, Russia’s ability to continue the war depends on its capacity to finance it, noting that the EU has already adopted 21 rounds of sanctions, restricting Russia’s access to energy revenues, financial services, technology, and goods used by its military-industrial complex.
Ms. Harkin noted that Russia continues to use intermediaries in third countries and complex trade networks to circumvent the restrictions, adding that the EU aims to make these channels more difficult and costly to use.
At the same time, he referred to the continuation of military, material, economic, and political support for Ukraine. Among other things, he mentioned the mobilization of 6.6 billion euros through the European Peace Facility, to support critical infrastructure through the Ukraine Energy Support Fund, and a 90 billion euro support loan for the period 2026–2027.
For her part, Maria Luís Albuquerque, Commissioner for Financial Services and the Savings and Investment Union, stated that the 21 rounds of sanctions adopted since the start of the Russian invasion cover trade, energy, transportation, the financial sector, and the media.
According to the Commissioner, the EU has imposed sanctions on more than 690 ships in the so-called “shadow fleet,” which are barred from accessing EU ports and services, while more than 100 Russian banks have been subject to a transaction ban.
Ms. Albuquerque argued that the sanctions have deprived Russia of more than 1 trillion euros that could otherwise have been used for the war.
She also noted that EU foreign ministers are expected to adopt additional measures on Monday that will target, among other things, oil refineries and the “shadow fleet” ecosystem, while the European External Action Service and the European Commission are finalizing proposals for the 22nd sanctions package.
Cypriot MEP Fidias Panayiotou, who criticized the EU’s approach and argued that the Union has not made sufficient use of diplomacy to end the war.
Mr. Panayiotou stated that he condemns the Russian invasion as a violation of international law and that Ukraine’s sovereignty and territorial integrity must be protected, adding, however, that, in his view, diplomacy is essential for achieving a just and lasting peace.
Responding to a comment by another Member of the European Parliament, Mr. Panayiotou also referred to Cyprus, stating that his country has been invaded by Turkey and remains under illegal occupation, while reiterating his position in favor of resolving such issues through diplomacy rather than war.
In her closing remarks, Ms. Albuquerque cited a report by the European Court of Auditors, stating that trade sanctions and measures to prevent their circumvention have significantly reduced trade between the EU and Russia, particularly in goods needed by the Russian military. He also noted that the Commission has announced the creation of a sanctions office to strengthen enforcement and coordination.
Concluding the discussion on behalf of the Council, Ms. Harkin stated that the EU institutions’ approach remains to maintain pressure on Russia, with an emphasis on enforcing existing sanctions, closing loopholes, and limiting Russian energy revenues.
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Source: CNA
