The European Union will delay the official submission of the latest sanctions package against Russia, according to a European diplomat, after US President Donald Trump has demanded stricter European measures as a prerequisite for the United States with their own sanctions, according to Bloomberg.
The European Commission, the EU Executive Body, was to present the 19th Package of sanctions on Wednesday. On Friday, The US has been pressing on their allies on G7 to impose customs duties up to 100% on China and India for their markets in Russian oil, as well as other measures to push President Vladimir Putin at the negotiations table with Ukraine.
G7 officials are currently working on a new sanctions package and aiming to finalize a text over the next two weeks, according to a person who knows the matter, who spoke on the condition of anonymity.
The EU is examining sanctions on companies in India and China that allow Russia’s oil trade, Bloomberg said earlier.
Trump said the weekend that he is ready to impose “significant” sanctions on Russian oil if European nations do the same. It should be noted that Russian energy markets from China and India are considered critical for funding Putin’s war in Ukraine.
The US proposal also seeks to target Russian oil companies and networks that allow Moscow to transport crude oil and benefit from trade.
Trump has so far avoided imposing immediate sanctions on Russia. Although Trump has doubled duties in India at 50% for continued Russian oil markets, the US is involved in trade negotiations with both India and China.
The US proposal throws the ball on the European stadium. Duties in India and China would be difficult for the EU, as many countries – including Germany – are based on these export markets.
The 19th EU sanctions package against Russia is considering targeting about six Russian banks and energy companies, as well as Russia’s payment and credit card systems, cryptocurrency exchange and further restrictions on the country’s oil trade, as Bloomberg has reported.
Source: Skai
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