Latvia, Poland and Lithuania yesterday voted in favor of a total ban on hydrocarbon imports from Russia at the informal Versailles Summit, despite the danger it poses to the European Union’s unity in the face of Russia’s war in Ukraine.
“I am convinced that we must decide to suspend energy imports from Russia in order to force (Russian President Vladimir) Putin to come to the negotiating table and end the war,” said Latvian Prime Minister Christian Karins.
The informal summit of 27 took place after two tense weeks of arms supplies to Ukraine, hosting nearly 2.2 million refugees, and approving three rounds of unprecedented sanctions on Russia for invading its neighboring country.
Heads of state and government in favor of the embargo say it will deprive Moscow of its main source of revenue and funding for the war in Ukraine.
According to estimates by the Bruegel Research Institute in Brussels, EU member states currently pay about $ 420 million a day for gas and nearly $ 400 million for oil imported from Russia.
However, the proposal to impose an embargo is strongly opposed by Germany, Austria and Hungary, which cover much of their energy needs with imports from Russia. German Chancellor Olaf Solz had already publicly opposed the idea on Monday.
At the same time, leaders are discussing how conditions could be created to declare a ceasefire in Ukraine. Referring to the conversation he had with Russian President Putin and German Chancellor Soltz earlier yesterday, French President Emanuel Macron noted that the conditions set by the Kremlin are not “acceptable” on the other hand.
“So the question is, is Mr. Putin willing to discuss it honestly again and suggest something?” asked Mr Macron before the summit, adding that he was to speak again with the Russian president last night.
European Council President Charles Michel reiterated that EU leaders will discuss measures that could pave the way for a ceasefire.
“I think we understood hexapine Russia because we seemed steadfast, strong, united”, but “this is not enough (…) we have to define together what could be the next steps (…) to ensure the ceasefire as soon as possible. ”
EU leaders have dashed Kiev’s hopes of joining it immediately at the start of an informal summit, with German Chancellor Soltz and Dutch Prime Minister Mark Rutte dismissing the move as “unrealistic”. “There is no expedited admission process – there is no such thing,” Rutte said.
Mr Soltz, for his part, referred to the association agreement signed by the EU and Ukraine in 2017.
“It’s very important that we continue to pursue what we have agreed upon in the past – this is a path we must follow,” he said.
Ukrainian President Volodymyr Zelensky has repeatedly called on the EU to speed up its accession process following the Russian military invasion on February 24.
But admission tends to be a long, technical and politically difficult process.
The text of the summit conclusions also puts on ice Kiev’s hopes of speeding up accession, although it assures that “Ukraine belongs to the European family”.
The first day of the informal summit focused on boosting the economies of EU member states to address the economic impact of the war and reduce dependence on Russian energy – gas, oil and coal imports from Moscow cover more than 40% of European needs in total.
The plans announced by the European Commission last Tuesday refer to a reduction in dependence on Russian gas before 2030. Recent threats by Moscow to suspend supplies have made the debate more urgent.
Member States are calling for new rules to provide for higher borrowing to tackle higher energy prices during the transition, but the proposal has met with resistance. In addition, Greece and Spain are calling for a reform of the energy market.
Italian Prime Minister Mario Draghi has pushed behind the plan to issue Eurobonds to finance member countries’ energy and defense spending.
For her part, European Commission President Ursula von der Leyen proposed imposing a ceiling on energy prices and supporting European businesses.
SOURCE: ΑΠΕ-ΜΠΕ
Source: Capital
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