The foreign ministers of Finland and Sweden have urged the European Union to impose even stricter sanctions against the Russian Federation. On January 12, Elina Valtonen and Maria Malmer Stenergard jointly presented their proposals for expanding restrictions on exports and imports from Russia.
This is reported by Kyiv24
Strengthening Sanctions and New Restrictions
The head of the Finnish Foreign Ministry, Elina Valtonen, emphasized the need for a complete ban on maritime transport of Russian energy resources in coordination with G7 countries. According to her, reducing energy exports from Russia limits the Kremlin’s financial resources for conducting an aggressive war against Ukraine. She also called for strengthening import quotas and banning the export of luxury goods to Russia.
“The EU must prepare a complete ban on maritime transport in coordination with the G7. Reducing Russia’s energy exports limits its ability to finance a brutal war against Ukraine. The EU must also strengthen import quotas and restrict the export of luxury goods”
The proposals were presented at a joint press conference by the ministers. Maria Malmer Stenergard additionally published a photo of a joint letter addressed to the EU’s High Representative for Foreign Affairs, Josep Borrell. The letter emphasizes the need for further pressure on Russia in response to ongoing attacks against Ukraine.
Key Points of the Sanctions Proposals
The letter outlined a number of new measures proposed to be included in the 20th package of EU sanctions in coordination with partners in the G7. Among them:
- A ban on shipping for all vessels transporting Russian energy resources from Russian ports. This is expected to significantly increase logistics costs for Russia and make it impossible for EU entities to participate in such trade.
- Strengthening restrictions on the export of fertilizers from Russia, as this category is the third largest in terms of exports to the EU. The current quotas, according to the diplomats, are too generous and allow Russia to avoid real restrictions.
- Elimination of threshold values for luxury goods to completely halt their export from the EU to Russia.
The diplomats emphasized that European luxury goods hold not only material but also symbolic and political significance for the Russian elite.
During the press conference, Elina Valtonen noted that the threat from Russia persists over the long term, so sanctions pressure must be maintained regardless of any potential cessation of hostilities or signing of a peace agreement. Malmer Stenergard, in turn, estimated the potential losses to the Russian economy from the ban on fertilizer imports to the EU at 1.4 billion euros.
It is worth noting that in October of last year, the European Union agreed on the 19th package of sanctions against Russia, which focuses on the energy, financial, and trade sectors. In particular, a gradual ban on the import of liquefied natural gas is being implemented: for short-term contracts — in six months, and for long-term contracts — from January 1, 2027.
Since the beginning of Russia’s full-scale invasion of Ukraine, the United States and other Western countries have imposed numerous sanctions aimed at reducing the Kremlin’s ability to wage war and limiting access to Western technologies. At the same time, Russia is finding ways to circumvent restrictions and obtain imported components.