The European Union is likely ready to adopt the 18th package of sanctions against Russia. According to information received from Malta’s permanent representation to the EU, the country plans to lift its veto on this sanctions package on July 18. The matter will be discussed the same day at the EU Council meeting.
According to reports, Malta has received the necessary guarantees from the European Commission regarding the implementation of the restrictions, particularly concerning oil prices. The representation stated:
“Malta has received the necessary assurances that the Commission will ensure that what is adopted (the oil price cap) will be feasible and will not serve to strengthen the shadow fleet, and that the package will achieve exactly the goals for which it was proposed.”
A diplomat from one of the key EU countries reported that after Slovakia lifts its veto at 9 a.m. Kyiv time, EU ambassadors will hold an extraordinary meeting to reconsider the 18th sanctions package against Russia.
Additionally, another EU representative noted that at the request of Germany and Sweden, the sanctions will be discussed on July 18 at the EU Council under the “Any Other Business” section.
According to the procedure, once approved by the EU Council, the sanctions package is considered officially adopted.
Earlier, Slovakia also announced the unblocking of the package’s adoption after receiving written guarantees from the European Commission regarding gas prices and potential shortages.
In June, the European Commission presented the 18th sanctions package, which includes new restrictions for Russia’s energy and banking sectors, as well as transactions related to the Nord Stream project.
Slovakia demanded compensation or an exemption from the RePower EU roadmap for phasing out Russian energy sources in exchange for supporting the sanctions package.
Malta, in turn, opposes lowering the cap on Russian oil prices from $60 to $45 per barrel, arguing that the shipping industry is an important component of Malta’s economy.