Belgian PM says EU needs to pause sanctions against Russia

According to the Belgian prime minister, agreeing on an embargo on Russian gas supplies will be "much more difficult" than it was with oil. He suggested that the EU wait with new sanctions and see if

After the introduction of the sixth package of anti-Russian sanctions, the European Union needs to “pause” and look at the consequences, said Belgian Prime Minister Alexandre de Cros, reports BLOOMBERG.

“This package [of sanctions] is a big step forward and I think we should pause now,” de Cros said.

Answering a question from journalists regarding a possible embargo on Russian gas, the prime minister noted that it would be “much more difficult” to agree on a decision on it than it was with oil.

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“So this [the imposition of the sixth package of sanctions] is an important step. Let's stop there and see what effect it will have," he said (quoted by Barron's).

The European Union agreed to a partial embargo on oil from RUSSIA. What does it mean Business

On the evening of May 30, the European Union agreed on a partial ban on the import of Russian oil as part of the sixth package of sanctions. The ban will be imposed on offshore oil supplies and will not affect exports through pipelines, through which EU members, including Hungary, Germany and Poland, received about a third of the oil.

At the same time, Germany and Poland decided to independently abandon any form of Russian oil supplies (by sea and pipelines). Therefore, by the end of the year, it will be sent to the EU only through the southern part of the Druzhba pipeline, which accounts for 10% of the total volume of oil bought by the EU from Russia, explained the HEAD of the European Commission Ursula von der Leyen.

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Russian President Vladimir Putin called Europe's energy policy "economic suicide." According to him, along with Russian energy resources, "the possibility of increasing economic activity will also leave Europe for other regions of the world." As a result, it will become the region with "the highest cost of resources in the world," which "may seriously undermine the competitiveness of a significant part of European industry," the president said.

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