Following Russia's illegal and unprovoked full-scale invasion of Ukraine in February 2022, the European Union swiftly adopted unprecedentedly tough sanctions against Moscow. There have since been 11 sanctions packages in total, Moscow has however found ways to bypass these measures, including through loopholes in trade restrictions and with the help of third-country intermediaries. This news item shows footage from the MEPs debate with the Commission and the Council on whether the EU’s sanctions against Russia are working, and how to prevent their circumvention by Moscow.

EU - Ukraine (T)

Strasbourg

debate

plenary session

EU - Russia (T)

troubles in Ukraine (T)

VAN BREMPT, Kathleen (S&D, BE)

REYNDERS, Didier (BE, EC)

KUBILIUS, Andrius (EPP, LT)

GUETTA, Bernard (Renew, FR)

LAGODINSKY, Sergey (Greens/EFA, DE)

solidarity with Ukraine (T)

NAVARRO RÍOS, Pascual Ignacio

Effectiveness of the EU sanctions on Russia: extracts from the debate

https://api.multimedia.europarl.europa.eu/documents/20125/72692178/1697181030776_I247695Chapters%5BSD-EN%5D.srt

External shot of the EP, Strasbourg (1 shot) 

SOUNDBITE (Spanish), Pascual NAVARRO R&Iacute;OS, Spanish Secretary of State for the European Union, Our sanctions have been designed to reduce Russia's capacity to carry out its illegal war against Ukraine, reduce its state budget and prevent access to key technologies which are relevant to defense. The effectiveness of this system has been shown by the decline of the defense manufacturing industries in Russia and its loss of competitiveness over the medium and longer term.

SOUNDBITE (English), Didier REYNDERS, European Commissioner for Justice, and Commissioner for Competition (ad interim), We can see that the oil price gap and sanctions more generally are depriving Russia of its usual income sources to finance the war. In addition, mobilizing the assets of the Central Bank of Russia of about &euro;300 billion, of which two thirds we know are in the European Union, was effective. It immediately created strong pressure on the ruble and forced the Russian authorities to turn to drastic capital control measures.

SOUNDBITE (English), Didier REYNDERS, European Commissioner for Justice, and Commissioner for Competition (ad interim), Russia is implementing a number of measures to support its economy and counter the effects of sanctions. While these Russian countermeasures may provide some stabilization, they also tie up resources that would otherwise be available to finance the war.

SOUNDBITE (English), Didier REYNDERS, European Commissioner for Justice, and Commissioner for Competition (ad interim), This is why we have appointed an EU International Special Envoy for sanctions implementation. The envoys work as focuses on stopping Russia's attempts to procure key technologies for the battlefield, forbidden by all sanctions, that make their way through third countries.

SOUNDBITE (English), Andrius KUBILIUS (EPP, LT), Of course we need to see that those sanctions are working. Russia gets two times less income from exports of gas and oil. That's a very soon before the war. The most painful sanctions were established last December. We saw the introduction of oil price cap. Since the oil bring is bringing the biggest amount of income

SOUNDBITE (English), Andrius KUBILIUS (EPP, LT), Let's introduce sanctions on companies which are building Russian Arctic two LNG Terminal. Let's introduce sanctions on export of Russian aluminum and on Rosatom and export of nuclear fuel. It depends on us if Russia will continue to be able to finance its war.

SOUNDBITE (English), Kathleen VAN BREMPT ( S&amp;D. BE), We continue to see that the Russian economy is not hit as hard as you would have expected. Our sanctions are not as effective as we thought they would be. A lot of products on the sanction list still go to Russia and into the Russian war economy. So we need to step up our diplomatic efforts, but also pressure towards these countries, neighboring countries, allies that circumvent, but also EU companies that keep exporting these products.

SOUNDBITE (French), Bernard GUETTA (Renew, FR), Putinism is hurt by these sanctions and is suffering because of them. But obviously there are some loopholes in our measures. We need to take new measures that are more targeted and which hurt the aggressor even more. We need to take stock of what has worked well, worked less well or not worked whatsoever.

SOUNDBITE (English), Segey LAGODINSKY (Greens, DE), Our priority is to prevent Russian government and Russian machinery from their ability to continue financing this genocidal war. The goal of sanctions is not collective punishment of Putin's opponents in the EU. The interpretation of sanctions by the Commission, just recently, according to which Russian dissidents cannot bring to the EU their own personal items, shampoo, soap, those items from Russia. Is frankly an embarrassment and self ridiculing of our sanction instrument, of one of the most important instruments of our foreign policy.

SOUNDBITE (English), Segey LAGODINSKY (Greens, DE), We still do not have a clear understanding of how sanctions are imposed, lifted and implemented. The Commissioner, The Council. We must increase pressure. We must enact more sanctions. And our colleagues were right about that. We must close the loopholes. But please do it with a clear view of helping Ukraine through restricting Russian state and do this by driving a clear, transparent and professional strategy.