Ways are investigating the European Union (EU) to extend the sanctions against Russia without the need for the support of all 27 states.
Such a maneuver would allow the EU to continue its sanctions, which must be approved every six months, despite Hungary’s opposition, according to sources cited by Bloomberg. The European Commission (Commission), the EU executive arm, is weighing whether it can convert sanctions into commercial measures that do not require unanimous consensus, sources said.
Commercial measures usually require a special majority for approval. The next renewal of sanctions against Russia is expected in July. Hungary has repeatedly threatened to veto the measures – as it has done in the past, before receiving in the midst of negotiations with the Commission on often irrelevant issues.
Many of the EU sanctions against Russia include restrictions on exports of weapons or those required for their construction, as well as bans on imports such as steel products, most of the oil and aluminum.
The block (EU) should renew other measures, including the freezing of almost EUR 200 billion (227 billion dollars) of the Russian Central Bank assets and the catalogs of hundreds of natural persons, ships and entities that helped Moscow in War.
Another option would be for a coalition of willing Member States to reproduce sanctions inside the country, according to sources. Most of the immobilized assets of Russia’s central banks are kept through the Belgium -based Euroclear liquidation. The EU has so far adopted 16 beams against Russia and is currently working for a new package of measures.
Hungary Prime Minister Victor Orban maintains close ties with Russian President Vladimir Putin and argues that Russia is not a military threat to the EU. Orban kept a separate renewal of sanctions earlier this year.
The Trump government has so far been in its sanctions, although it has pointed out that measures could be part of the negotiations. He has proposed that some relief could accompany an agreement between Russia and Ukraine or could increase if Moscow continues to refuse to cease fire to which Kiev has already agreed.
So far, most European leaders have strongly rejected any relaxation of penalties against Moscow, opposing the increase in pressure on Russia.