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Politico (30 Mayıs 2024)

BY VICTOR JACK, KOEN VERHELST AND CORY BENNETT

EU countries are concocting creative new ways to stifle Russia’s cash flow after two years of sanctions failed to cripple Moscow’s war machine.

The ideas took shape Thursday during two parallel meetings of EU ministers in Brussels. Notably, the methods discussed would allow the EU to target various Russian exports — including its cash cow, fossil fuels — without requiring unanimity from all EU members. They would also bolster the EU’s energy security before winter sets in.

The need for unanimity on sanctions has prevented the EU from taking more aggressive action against Moscow’s war chest. Hungary, in particular, has regularly delayed or derailed sanctions proposals, holding up attempts to penalize Russian oil and gas — a vital lifeline that provides almost half of the Kremlin’s tax revenues — arguing it would raise prices for Europeans.

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