According to Vice President of the European Commission Borrell, the foreign ministers of EU countries led the debate on sanctions at a meeting in Prague last week.
“People say that Russia has a constant income of funds from the sale of gas and oil. This is of course true because the price is going up, but our influence on Russian industry and its influence is very important and will deepen,” he said.
According to him, it takes a certain amount of time for the sanctions to take effect completely.
Russia has also reduced oil and gas production, according to Borrell. “This means that the impact of Western technology and companies withdrawing from the Russian market is great,” he noted.
The Hague wants an exemption from EU sanctions, it has no other supplier than Gazprom
EU states have already adopted six direct sanctions packages, the last set of sanctions was approved in July – but European Commission representatives do not refer to this as the seventh package of sanctions, but rather as a refinement of the sanctions adopted until then.
This set concerned the ban on the import of Russian gold and the restriction of the export of products that can be used for military purposes. Sanctions against the largest Russian bank, Sberbank, were also expanded. Five dozen Russian citizens and several companies were added to the sanctions list.
With the ongoing war in Ukraine, it is also a test of the capabilities of the EU countries, he believes. It is the responsibility of the EU and the states to solve the issue of high prices and break energy dependence on Russia.
The energy crisis has a big impact on citizens, Borrell said. Russia is using gas and oil prices as part of hybrid warfare, he added.
Last week, ministers also discussed the impact of Russian aggression against Ukraine on the African continent. Some countries there are facing food shortages, and the Russian narrative is that Western sanctions are to blame for the crisis, Borrell said.
Some governments, media and companies are listening to this narrative. “We have to be very careful not to get our relations with African countries to a point where it cannot be sustained,” he added.