Latest news with #RePowerEU
Canada News.Net
5 days ago
- Politics
- Canada News.Net
EU neighbor urges Slovakia to lift Russia sanctions veto
Czech Prime Minister Fiala has urged Bratislava to stop blocking the proposed restrictions Czech Prime Minister Petr Fiala has urged Slovak leader Robert Fico to withdraw Bratislava's veto of the EU's 18th sanctions package, which targets Russia over its role in the Ukraine conflict. Slovakia blocked the measures for the second time on Friday. Slovakia opposes the sanctions due to concerns over the RePowerEU plan, an EU initiative aimed at phasing out Russian energy imports by 2027. The plan is being discussed alongside measures targeting Russia's energy and financial sectors. Bratislava says it could lead to supply shortages, rising prices, increased transit fees, and potential legal disputes with Russian energy giant Gazprom. In a post on X on Sunday, Fiala said he sent a letter to Fico urging Slovakia to reconsider its stance, citing the "exceptionally close relations" between the two countries. While Russian gas has not been subject to a direct EU ban, most member states have voluntarily cut imports. However, several landlocked countries - including Slovakia, Hungary, Austria, and the Czech Republic - still rely on limited volumes through exemptions. Last week, Fico described the RePowerEU plan as "ideological," and said Slovakia requires "clear guarantees, not political promises" to ensure energy security and affordability - conditions which he said are necessary for supporting the sanctions. The European Commission has proposed advancing the energy phase-out via trade legislation, allowing approval by qualified majority and potentially bypassing vetoes by member states such as Slovakia and Hungary. Budapest has also rejected the plan, with Foreign Minister Peter Szijjarto warning it would "destroy Hungary's energy security" and trigger price spikes. In June, Brussels proposed a new round of sanctions targeting Russian energy exports, infrastructure, and finance. The measures would reportedly include a lower price cap on Russian oil, a ban on the future use of the Nord Stream pipeline, restrictions on refined products from Russian crude, and sanctions on 77 vessels linked to Russia's alleged 'shadow fleet' used to evade oil restrictions. Moscow has denounced the sanctions as illegal and counterproductive, arguing that they have inflated EU energy prices and forced the bloc to depend on more expensive or rerouted imports, undermining economic competitiveness.
Russia Today
5 days ago
- Business
- Russia Today
EU country's leader denounces Brussels' ‘imbecilic' Russia plan
Slovak Prime Minister Robert Fico has slammed the EU's plan to phase out Russian energy imports as 'imbecilic,' warning that the move would undermine his country's energy security, as well as the rest of the bloc. The RePowerEU plan envisages cutting all Russian oil and gas imports into the EU by 2027. The scheme has met with opposition not only from Slovakia, but also Hungary, Austria, and reportedly Italy. In a video posted on Facebook on Monday, Fico said the 'battle for Slovakia's energy security is nearing its end,' acknowledging that Bratislava cannot veto Brussels' plan. He accused the EU leadership of deliberately presenting the proposal as trade legislation to pre-empt opposition. Unlike sanctions, the plan only requires a qualified majority to pass. 'The [European] Commission's proposal is, excuse my language, imbecilic. Demagogically, it is the result of a limitless obsession with Russia,' the prime minister said. He added that phasing out Russian energy will 'damage the Slovak economy and undermine the competitiveness of the entire EU.' Responding to a letter from Czech Prime Minister Petr Fiala, who urged Fico to support the EU's 18th sanctions package against Russia, the Slovak leader stated on Monday that he would not relent until 'relevant stakeholders provide [Bratislava] with the necessary guarantees that after January 1, 2028, Slovakia will have sufficient gas supplies at reasonable prices.' Slovakia blocked the sanctions package for the second time last Friday, demanding that its concerns over the separate RePowerEU plan be addressed first. While Russian gas has not been subject to a direct EU ban, most member states have voluntarily cut imports. However, several landlocked countries – including Slovakia, Hungary, Austria, and the Czech Republic – still rely on limited volumes through exemptions. Bratislava and Budapest also receive much of their oil from Russia. Russia has warned that targeting its energy exports will continue to cause energy prices to surge across the EU, weakening the bloc's economy. Since 2022, growth across the EU has stagnated.
Canada News.Net
09-07-2025
- Business
- Canada News.Net
Oil Price Cap, Slovak Veto Stand In Way Of New EU Russia Sanctions
The European Union is edging closer to finally adopting its latest sanctions package, the 18th since the full-scale Russian invasion of Ukraine over three years ago. But two items still remain to be negotiated. Firstly, the price cap on Russian oil. Its still in the draft proposal seen by RFE/RL, but there is a question whether it will remain there. Secondly, there's a Slovak veto on an issue that is related to the sanctions though not directly part of the package. When the European Commissionpresentedthe proposed package to EU member states in early June the signature proposal was to lower the price cap on oil from the current level of $60 per barrel to $45. As this policy is under the Group of Seven (G7), the EU tried to secure approval from other G7 countries, notably the United States, on such a move at a summit in Canada last month. But it failed to get the Americans onboard, especially as oil prices surged after Israeli and American attacks on Iran. Brussels has, however, considered going ahead regardless, especially as the Russian oil price cap initially was a way around an EU ban on services to transport Russian oil. In recent discussions in Brussels, EU officials familiar with the file but not authorized to speak on the record, note that Cyprus, Greece, and Malta -- countries with considerable maritime services sectors -- are against lowering the price cap. It is, however, understood that Cyprus and Greece could ease their stance especially as the United Kingdom, another big maritime insurer, is onboard with Brussels on a lower oil price cap. Diplomats even think that the United States eventually could join as well if Brussels and London are fully onboard. The last holdout appears to be Malta, even though there are some hopes that Valletta could accept a lower oil cap, though above the proposed $45 per barrel. SEE ALSO: Wider Europe Briefing: Why EU Sanctions On Russia Are Delayed -- And What Denmark's EU Presidency Has In Store Then there is the Slovak veto. Bratislava has conditioned its thumbs up for more Russia sanctions on the reworking of a separate proposal by the European Commission to phase out Russian energy imports into the bloc by the end of 2027. The proposal, presented in May, is called RePowerEU and has caused consternation in Slovakia as well as Hungary, which is understood to be quietly backing its northern neighbor. And it is easy to see why. The European Union has since 2022 limited various Russian energy products through sanctions, for example banning most coal and oil imports into the bloc. But sanctions require unanimity of the 27 EU member states, and Hungary and Slovakia have in the last couple years vetoed some of the more restrictive proposals from Brussels targeting Russian energy. The European Commission is therefore attempting via RePowerEU to regulate the EUs internal market with a raft of measures, most of which can be adopted via a qualified majority of 55 percent of the member states representing 65 percent of the total EU population voting in favor. In other words, a route that circumvents Bratislava and Budapest. The key proposal will be a legal requirement to ban all new Russian gas contracts and short-term so-called spot contracts for Russian liquified natural gas (LNG) by the end of this year at the latest. For longer-term contracts, the regulation will suggest a wind-down period ending no later than the end of 2027. SEE ALSO: Does The EU Still Have The Sanctions Cards Needed To Hurt Russia? EU gas imports from Russia have decreased from 45 percent in 2021 to 19 percent in 2024 and are expected to fall to 13 percent in 2025 after the end of the Ukraine transit route at the start of the year. The EU has, however, been embarrassed that Russian LNG imports increased by 12 percent last year compared to 2023. With regard to oil imports, the situation is less dramatic but very geographically specific and politically sensitive. Russian oil imports only constitute 3 percent of total EU oil imports today, compared to 27 percent back in 2022 largely due to sanctions that banned Russian seaborne imports and refined petroleum products. But landlocked Central European nations got an exemption from these measures. While the Czech Republic now has stopped importing from this source, Hungary and Slovakia still get 80 percent of their oil imports from Russia. The European Commission will now demand an end to Russian oil imports by the end of 2027, and the pair need to provide a timeline on how they plan to achieve this, present what alternative options they are planning to take, and provide greater transparency of their current contracts with Moscow. Slovak Prime Minister Robert Fico indicated at the EU summit in Brussels on June 26 that he would not green light the sanctions package, saying that he needs clarifications over RePowerEU. According to diplomats familiar with the file, Bratislava is not so much asking about exemptions but legal certainty about potential Gazprom claims over contracts. Last week, European Commission officials visited Bratislava to meet with both Slovak officials and representatives of energy companies. While EU diplomats said the meetings went well, it appears that Fico still isnt fully onboard. EU ambassadors who met in Brussels on July 4 to discuss the sanctions were told that it's not ripe for approval just yet. The press release issued by the Slovak Economy Ministry after the European Commission visit also hinted that more talks are needed in the coming days. Economy Minister Denisa Sakova said that the Bratislava meeting was an important step towards finding solutions that take into account the specific factors of each member state when diversifying sources and thus ensure affordable energy prices also for the Slovak industry, which is facing rising costs. She added that we are ready to continue to take a constructive approach to the proposed measures and to continue the expert discussion with the involvement of all relevant stakeholders."
Canada Standard
09-07-2025
- Business
- Canada Standard
Oil Price Cap, Slovak Veto Stand In Way Of New EU Russia Sanctions
The European Union is edging closer to finally adopting its latest sanctions package, the 18th since the full-scale Russian invasion of Ukraine over three years ago. But two items still remain to be negotiated. Firstly, the price cap on Russian oil. Its still in the draft proposal seen by RFE/RL, but there is a question whether it will remain there. Secondly, there's a Slovak veto on an issue that is related to the sanctions though not directly part of the package. When the European Commissionpresentedthe proposed package to EU member states in early June the signature proposal was to lower the price cap on oil from the current level of $60 per barrel to $45. As this policy is under the Group of Seven (G7), the EU tried to secure approval from other G7 countries, notably the United States, on such a move at a summit in Canada last month. But it failed to get the Americans onboard, especially as oil prices surged after Israeli and American attacks on Iran. Brussels has, however, considered going ahead regardless, especially as the Russian oil price cap initially was a way around an EU ban on services to transport Russian oil. In recent discussions in Brussels, EU officials familiar with the file but not authorized to speak on the record, note that Cyprus, Greece, and Malta -- countries with considerable maritime services sectors -- are against lowering the price cap. It is, however, understood that Cyprus and Greece could ease their stance especially as the United Kingdom, another big maritime insurer, is onboard with Brussels on a lower oil price cap. Diplomats even think that the United States eventually could join as well if Brussels and London are fully onboard. The last holdout appears to be Malta, even though there are some hopes that Valletta could accept a lower oil cap, though above the proposed $45 per barrel. SEE ALSO: Wider Europe Briefing: Why EU Sanctions On Russia Are Delayed -- And What Denmark's EU Presidency Has In Store Then there is the Slovak veto. Bratislava has conditioned its thumbs up for more Russia sanctions on the reworking of a separate proposal by the European Commission to phase out Russian energy imports into the bloc by the end of 2027. The proposal, presented in May, is called RePowerEU and has caused consternation in Slovakia as well as Hungary, which is understood to be quietly backing its northern neighbor. And it is easy to see why. The European Union has since 2022 limited various Russian energy products through sanctions, for example banning most coal and oil imports into the bloc. But sanctions require unanimity of the 27 EU member states, and Hungary and Slovakia have in the last couple years vetoed some of the more restrictive proposals from Brussels targeting Russian energy. The European Commission is therefore attempting via RePowerEU to regulate the EUs internal market with a raft of measures, most of which can be adopted via a qualified majority of 55 percent of the member states representing 65 percent of the total EU population voting in favor. In other words, a route that circumvents Bratislava and Budapest. The key proposal will be a legal requirement to ban all new Russian gas contracts and short-term so-called spot contracts for Russian liquified natural gas (LNG) by the end of this year at the latest. For longer-term contracts, the regulation will suggest a wind-down period ending no later than the end of 2027. SEE ALSO: Does The EU Still Have The Sanctions Cards Needed To Hurt Russia? EU gas imports from Russia have decreased from 45 percent in 2021 to 19 percent in 2024 and are expected to fall to 13 percent in 2025 after the end of the Ukraine transit route at the start of the year. The EU has, however, been embarrassed that Russian LNG imports increased by 12 percent last year compared to 2023. With regard to oil imports, the situation is less dramatic but very geographically specific and politically sensitive. Russian oil imports only constitute 3 percent of total EU oil imports today, compared to 27 percent back in 2022 largely due to sanctions that banned Russian seaborne imports and refined petroleum products. But landlocked Central European nations got an exemption from these measures. While the Czech Republic now has stopped importing from this source, Hungary and Slovakia still get 80 percent of their oil imports from Russia. The European Commission will now demand an end to Russian oil imports by the end of 2027, and the pair need to provide a timeline on how they plan to achieve this, present what alternative options they are planning to take, and provide greater transparency of their current contracts with Moscow. Slovak Prime Minister Robert Fico indicated at the EU summit in Brussels on June 26 that he would not green light the sanctions package, saying that he needs clarifications over RePowerEU. According to diplomats familiar with the file, Bratislava is not so much asking about exemptions but legal certainty about potential Gazprom claims over contracts. Last week, European Commission officials visited Bratislava to meet with both Slovak officials and representatives of energy companies. While EU diplomats said the meetings went well, it appears that Fico still isnt fully onboard. EU ambassadors who met in Brussels on July 4 to discuss the sanctions were told that it's not ripe for approval just yet. The press release issued by the Slovak Economy Ministry after the European Commission visit also hinted that more talks are needed in the coming days. Economy Minister Denisa Sakova said that the Bratislava meeting was an important step towards finding solutions that take into account the specific factors of each member state when diversifying sources and thus ensure affordable energy prices also for the Slovak industry, which is facing rising costs. She added that we are ready to continue to take a constructive approach to the proposed measures and to continue the expert discussion with the involvement of all relevant stakeholders."
Russia Today
05-07-2025
- Business
- Russia Today
Member state blocks EU's new Russia sanctions
Slovakia has blocked the EU's 18th round of sanctions targeting Russia for the second time due to concerns about the planned phase-out of Russian energy, Slovak media has reported, citing the Foreign Ministry. According to TASR news agency, Bratislava vetoed the package on Friday during a vote by the EU's Committee of Permanent Representatives. The ministry said Slovakia will continue to oppose the package until it receives firm guarantees from Brussels that the phase-out will not harm its economy. The dispute centers on the European Commission's RePowerEU plan, which aims to eliminate Russian energy imports by 2028. The plan is being discussed alongside the new sanctions package targeting Russia's energy and financial sectors. While Brussels reportedly plans to present the phase-out as trade legislation – requiring only a qualified majority – Slovak Prime Minister Robert Fico insists it should be treated as sanctions, requiring unanimous approval. The Foreign Ministry said the Slovak authorities, energy companies, and industry leaders consider the phase-out 'a major challenge for the competitiveness of the economy, especially from the perspective of energy prices and energy security.' It added that while Bratislava is open to further talks, the current negotiations have not addressed its 'fundamental concerns and reservations.' It stressed the need for a plan that 'benefits citizens and businesses.' A group of European Commission experts reportedly arrived in Slovakia this week for talks on energy. Fico previously warned that the phase-out would jeopardize energy security and raise prices. He also cited the risk of arbitration with Russia's Gazprom if Slovakia breaks its long-term contract, which could cost up to €20 billion ($23 billion) in penalties. Hungary also opposes the plan. Foreign Minister Peter Szijjarto said Budapest and Bratislava jointly blocked the package at last week's foreign ministers' meeting, warning that the energy cuts would 'destroy Hungary's energy security' and cause sharp price hikes. The European Commission unveiled its 18th sanctions package in early June, framing it as an attempt to pressure Russia to end the Ukraine conflict. The proposed measures include lowering the Russian oil price cap from $60 to $45 per barrel, banning the future use of the Nord Stream pipeline, restricting imports of refined products made from Russian crude, and sanctioning 77 vessels which the West claims are part of a so-called Russian 'shadow fleet'. The bloc also extended existing sanctions for another six months earlier this week. Moscow has condemned the sanctions, calling them illegal and counterproductive. Russian officials warned that the EU's rejection of Russian energy will force it to rely on costlier imports or rerouted Russian energy via intermediaries, driving up prices.
