Poland and the Baltic states of Estonia, Latvia, and Lithuania are reportedly clamoring for a hardline approach in the EU’s next package of Russia sanctions, with proposed restrictions said to include a ban on Russian liquefied petroleum gas (LPG) products, prohibitions on nuclear energy cooperation, and cutting Russia’s Gazprombank off from SWIFT (the bank is currently used to accept ruble payments for Russian natural gas from nations classified as "unfriendly" by Moscow).
In reports citing an internal document and sources said to be familiar with the discussions, Bloomberg and the Financial Times indicated that the proposed restrictions also include a ban on insurance services and the transfer of physical US dollars to Russia, as well as limitations on Russian access to cryptocurrency-based assets.
The hardline approach also calls for more banks besides Gazprombank to be barred from using SWIFT, as well as a bloc-wide ban on Russian diamonds, steel, and technology products and services.
In its report, Bloomberg indicated that Ireland is among the nations clamoring for a hardline approach.
The countries are also said to propose additional restrictions on the entry of Russian ships into EU ports, limitations on the sale of real estate to Russian companies and nationals who are not EU residents, and new sanctions on Russian media.
FT’s sources indicated that finding consensus on the hardline proposals may be “difficult” inside the bloc, given Hungarian intransigence on the issue and a desire by Budapest to avoid any new restrictions whatsoever.
EU members and European Commission officials were previously reported to be negotiating new sanctions on Moscow over President Vladimir Putin’s order this week to partially mobilize reserves for Russia’s ongoing special operation in Ukraine. On Wednesday, an informed EU source told Sputnik that the bloc is mulling restrictions including measures related to the implementation of G7 nations’ proposed price cap on Russia-sourced crude oil.
President Putin warned earlier this month that Europe was “in no position to dictate their will” to Moscow on energy price caps, and indicated that Russia would simply stop selling its energy resources to countries that put a cap in place. “You asked about capping prices for our energy resources…This is an absolutely stupid decision. If someone tries to implement it, nothing good will come of it for those who do so,” Putin warned.
Brussels’ restrictions may also include new sanctions on Russian officials, Sputnik’s source said. However, on Friday, sources told the EUobserver that the bloc has been hard-pressed to find any more Russian “big fish” to target.