Greece's stance during the approval process of the European Union's latest sanctions package against Russia is reigniting the debate about a possible change in the way sanctions are decided. According to a report by the Financial Times, European officials are considering abandoning single packages in favor of a more flexible, piecemeal process.
According to them Financial Times, the Greek government requested the exemption of Dynagas ships, owned by shipowner George Prokopios, from the ban on transporting Russian liquefied natural gas (LNG) to third countries. Athens reportedly linked the approval of the overall package to the acceptance of the request, making use of the veto power provided for in the unanimity procedure.
This development, according to European officials, highlighted the weaknesses of the current system, as a member state can delay the adoption of an entire package of sanctions to defend national interests. For this reason, the adoption of measures is being considered either individually or in smaller thematic units.
Since the start of the Russia-Ukraine armed conflict in 2022, the European Union has adopted a total of 21 sanctions packages, all unanimously. However, this process has caused repeated delays, as some states use their veto power to advance economic or energy interests.
The Greek side argued that the ban on the transport of Russian LNG would disproportionately burden a European shipping operator without a substantial impact on Russian revenues, while strengthening competitors from third countries, mainly China.
The Financial Times They describe the Greek exemption as the first substantial amendment to the EU sanctions framework against Russia. The package includes, among other things, new measures on Russian oil revenues, the freezing of assets of 94 Russian financial institutions and a ban on transactions with 33 banks.
The European Commission has not confirmed that a formal change to the procedure is being considered, but has pointed out that the current framework of 21 packages constitutes an extensive sanctions system that continues to exert significant economic pressure on Russia.
photo ValdasMiskinis, https://pixabay.com
