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EU Envoy-Sanctions Not 'Magic Bullet' But Making Russia 'Unhealthy'

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Special Envoy for the Implementation of EU Sanctions David O'Sullivan speaking at the European Policy Centre on geopolitics and the EU's efforts to pressure Russia via sanctions. Says that sanctions on Russia 'are not a magic bullet', but have 'pushed Russia into an unhealthy situation'. Says that an EU priority is to address Russia's shadow shipping fleet'. Adds that 'we [have] equipped ourselves to sanctions vessels'.

  • O'Sullivan says that the biggest challenge is in aligning and enforcing sanctions across the 27 EU member states.
  • On 13 Sep, the Commission presented three potential options to EU permanent representatives to break the logjam around sanctions and secure a EUR50bn G7 loan for Ukraine. Reuters: "The first option is a five-year freeze on the assets with a review every 12 months and a qualified majority of EU countries needed to unfreeze the assets...The second option is a renewal of the asset freeze every 36 months with a unanimous vote...The third option would be to extend the renewal period for all sanctions related to Russia to 36 months from the current six months."
  • The difficulty in reaching unanimity on sanctions, as required by EU law, was highlighted in an MNI EM Policy article from 17 Sep where Hungarian National Economy Minster Marton Nagy told MNI that “Hungary takes the very clear view that the sanctions are not working and in addition harm you and your economy." For more info see 'MNI EM INTERVIEW: Next NBH Head To Improve Relations With Gov't'.
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Special Envoy for the Implementation of EU Sanctions David O'Sullivan speaking at the European Policy Centre on geopolitics and the EU's efforts to pressure Russia via sanctions. Says that sanctions on Russia 'are not a magic bullet', but have 'pushed Russia into an unhealthy situation'. Says that an EU priority is to address Russia's shadow shipping fleet'. Adds that 'we [have] equipped ourselves to sanctions vessels'.

  • O'Sullivan says that the biggest challenge is in aligning and enforcing sanctions across the 27 EU member states.
  • On 13 Sep, the Commission presented three potential options to EU permanent representatives to break the logjam around sanctions and secure a EUR50bn G7 loan for Ukraine. Reuters: "The first option is a five-year freeze on the assets with a review every 12 months and a qualified majority of EU countries needed to unfreeze the assets...The second option is a renewal of the asset freeze every 36 months with a unanimous vote...The third option would be to extend the renewal period for all sanctions related to Russia to 36 months from the current six months."
  • The difficulty in reaching unanimity on sanctions, as required by EU law, was highlighted in an MNI EM Policy article from 17 Sep where Hungarian National Economy Minster Marton Nagy told MNI that “Hungary takes the very clear view that the sanctions are not working and in addition harm you and your economy." For more info see 'MNI EM INTERVIEW: Next NBH Head To Improve Relations With Gov't'.