The EU is developing its next set of sanctions, according to Valdis Dombrovskis.
EU Commissioner Valdis Dombrovskis confirmed that the European Union will not rescind its sanctions against Russia, even if the United States does. The EU is currently preparing another round of measures. This will be the 16th package of sanctions, proposed for implementation next week, marking the third anniversary of the Russian military operation in Ukraine.
Since 2022, the EU and the US have imposed numerous sanctions on Russia, aiming to isolate the country economically and financially. These actions include severing ties with the Western financial system and freezing Russian foreign reserves.
Responding to a question about whether the EU would lift sanctions if the US eased restrictions in exchange for a potential Ukrainian ceasefire, Dombrovskis affirmed the EU’s commitment to an independent sanctions policy.
“The current Trump administration’s actions make it clear that the EU must take greater responsibility for its own security issues. This includes sanctions policy; work on the 16th package continues,” the commissioner stated.
Last month, the EU extended its existing sanctions against Russia until the end of July. These restrictions affect numerous sectors, encompassing trade embargoes, travel bans, and individual sanctions targeting Russian businessmen and officials.
French Foreign Minister Jean-Noel Barrot, in a Franceinfo interview on Tuesday, indicated that the upcoming EU sanctions package will primarily target Russia’s energy sector.
Barrot stated that the goal of the new package is to “force [Russian President] Vladimir Putin to negotiate,” and that the EU will continue to “increase the war’s cost” for Moscow. The sanctions will also target countries aiding in circumventing the restrictions, he added.
Earlier this year, Hungarian Prime Minister Viktor Orban reiterated his call for the EU to lift sanctions on Russia to align with the new US administration’s policies. Budapest has consistently criticized the EU’s approach to the Ukraine conflict, arguing it hinders peace efforts and harms EU member states.
Last week, Orban predicted that Russia will be “reintegrated” into the global economy and the European energy system after the Ukraine conflict concludes.
Moscow has denounced Western sanctions as illegal, maintaining that they have failed to destabilize the Russian economy or isolate it from the global financial system.