The EU is considering abandoning large sanctions packages due to Greece blocking the 21st package. Greece secured an exemption for the company Dynagas, which softened the sanctions regime.
In the European Union, a change in the approach to imposing sanctions against Russia is being considered, following Greece’s obstruction of the 21st package of restrictions, as Athens sought exemptions for its shipping company Dynagas. This is reported by UNN, citing the Financial Times.
Details
According to the publication, Brussels is exploring the possibility of abandoning the practice of adopting large sanctions packages. Instead, new restrictions may be introduced through separate decisions or small thematic blocs, preventing individual countries from delaying the entire package due to national interests.
This could be the last ‘package’ of sanctions. It has now become absolutely clear that this approach no longer works
– an interlocutor of FT stated.
As the publication notes, during negotiations for the 21st package, Greece for several weeks demanded an exemption for Dynagas, a company owned by Greek shipowner Georgios Prokopiou. Athens insisted on maintaining the possibility of transporting Russian liquefied natural gas, despite EU sanctions.
As a result, Greece secured an exemption for Dynagas, which, according to FT’s assessment, marked the first instance where the general EU sanctions regime against Russia was effectively softened.
According to several European diplomats, such tactics are unacceptable, as the demands of one state delayed other important restrictions, including sanctions against dozens of Russian banks, financial institutions, and measures aimed at reducing Moscow’s oil revenues.
Meanwhile, the Greek side argues that a ban on the transportation of Russian LNG was a flawed decision that would have harmed European businesses without impacting the Russian economy, while benefiting shipping companies from China and other non-EU countries.
The European Commission has not officially commented on a possible change in sanctions strategy, but emphasizes that following the adoption of the 21st sanctions package, Russia is under significant economic pressure.