Slovakia Ends Veto, Clearing Path for New Russia Sanctions

BRUSSELS — Slovakia has lifted its veto on a new package of sanctions against Russia, ending a weeks-long impasse. This decision, confirmed by the Danish presidency of the Council of the EU, allows for the implementation of the 19th sanctions package since Russia’s full-scale invasion of Ukraine over three years ago.

The sanctions aim to weaken the Kremlin’s financial resources by imposing restrictions on energy traders and financial institutions, many of which are located in third countries. Companies that support the Russian war effort will be specifically targeted, alongside 117 new tankers identified as part of a shadow fleet transporting Russian fossil fuels in violation of the oil price cap.

Earlier this week, energy ministers from the 27 EU member countries reached a qualified majority agreement to phase out Russian gas, despite opposition from Slovakia and Hungary. Slovakia had previously insisted that it would block the sanctions unless it received assurances on managing high energy costs and support for its heavy industries, particularly the automotive sector. Austria and Hungary had also raised concerns but later withdrew their vetoes. With Slovakia’s recent decision, it became the final country to remove its opposition to the new sanctions.

EU Leaders to Discuss Continued Support for Ukraine

A Slovak diplomat confirmed that all of Slovakia’s demands were included in the statement to be discussed at the next summit of EU leaders in Brussels on March 15, 2024. This summit is expected to reinforce the EU’s commitment to supporting Ukraine, especially in light of pressure from U.S. President Donald Trump on Kyiv to consider territorial concessions to Russia. Ukrainian President Volodymyr Zelenskyy is anticipated to participate in parts of the meeting.

During the summit, leaders will focus on the necessity of imposing further sanctions on Moscow in response to its ongoing aggression against Ukraine. The agenda will also cover defense spending and strategies for utilizing frozen Russian assets to aid Ukraine.

The sanctions package will significantly broaden the list of non-Russian companies prohibited from engaging in business with the EU. This measure aims to prevent Russia from circumventing existing restrictions. Specifically, the bloc plans to introduce export controls on an additional 45 companies identified as collaborating to evade sanctions. This group includes 12 Chinese, two Thai, and three Indian entities that have facilitated Russia’s circumvention of EU sanctions.

Additionally, the new sanctions will impose restrictions on the movement of Russian diplomats within the EU. These diplomats will now be required to notify respective EU governments of their travel plans before crossing the borders of their host countries.

The sanctions package is set to undergo a written approval process, allowing member states until Thursday morning to voice any objections. If no concerns are raised, the package will be automatically approved.