EU Struggles with Russia Sanctions Amidst Greek Opposition

EU ambassadors failed to reach an agreement on a new sanctions package against Russia, targeting its banking sector. Greece is demanding a relaxation of restrictions on Russian LNG, standing as the primary obstacle to the sanctions. Further discussions are set for Thursday.

European Union ambassadors were unable to finalize a 21st sanctions package aimed at Russia during their meeting on Wednesday, a diplomatic source confirmed.

The proposed sanctions, which primarily target the Russian banking sector, are designed to exert financial pressure on Moscow. The EU, recognizing Russia’s current economic vulnerability, sees this as an opportune moment to tighten measures.

However, Greece poses a significant challenge, advocating for the easing of existing restrictions on Russian liquefied natural gas imports. This demand has become the central roadblock in advancing the sanctions package. Officials are scheduled to reconvene on Thursday to address these contentions.