Estonia is considering the possibility of blocking the adoption of the 18th package of European Union sanctions against the Russian Federation if it does not include a reduction in the price cap on Russian oil. This was stated by Estonia’s Minister of Foreign Affairs, Margus Tsahkna, emphasizing his country’s principled stance on this issue.
This is reported by Kyiv24
Estonian Position on Sanctions and the Oil Price Cap
The Estonian Foreign Minister stressed that the initiative to lower the price cap from the current $60 to $45 per barrel was included in the initial draft by the European Commission. However, there is a risk that this requirement may be excluded from the final text of the sanctions package. Estonia insists on the importance of maintaining this point to strengthen financial pressure on Russia and limit the Kremlin’s ability to finance military operations.
“We have a very clear position: the reduction of the oil price cap must be included in this package. We have a very firm stance on this issue.”
Response to Recent Russian Attacks and Progress of Negotiations in the EU
On his social media, Margus Tsahkna also reacted to the massive attack by Russia using a record number of drones and missiles — a total of 741 aerial vehicles were used. He emphasized that such targeted strikes against the civilian population are manifestations of terrorism. According to the minister, to counter aggression, the European Union must approve a new, 18th package of sanctions, necessarily including a reduction in the oil price cap to limit the financial resources of the Russian military machine.
Meanwhile, as reported by correspondent Rikard Juzvyak, EU member states have not yet reached a final agreement on the new sanctions package against Russia. This issue is expected to be discussed at an ambassadors’ meeting on Friday; however, at this moment, Slovakia is still blocking the adoption of measures.
It is worth noting that on June 26, at the EU summit, the leaders of member states gave political consent to extend the existing anti-Russian sanctions. At the same time, the new, 18th package of restrictions, which includes additional measures in the energy and banking sectors of Russia, was blocked by Slovakia. Official Bratislava criticizes the EU’s course towards a complete rejection of Russian energy resources and demands guarantees from Brussels to avoid an energy crisis in Slovakia, which heavily relies on gas and oil supplies from Russia.