Greece & Malta Voice Concerns Over New EU Russia Sanctions

Greece and Malta Stall New EU Sanctions on Russian Oil: A Sign of Shifting Alliances?

The European Union’s efforts to tighten sanctions against Russia are facing a roadblock, as Greece and Malta express concerns over a proposed ban on services crucial for transporting Russian oil. This development, reported on February 10, 2026, highlights the complexities within the EU and the potential for diverging interests when it comes to addressing the conflict in Ukraine.

The Proposed Sanctions: Beyond Price Caps

The European Commission recently proposed replacing existing price caps on Russian oil sales with a complete ban on providing the necessary services for its transportation. This represents the core of the EU’s 20th sanctions package against Russia. Currently, the EU is attempting to cut off revenue streams to Moscow and this new proposal aims to do so by targeting the logistical support network that keeps Russian oil flowing to global markets.

Concerns from Athens and Valletta

During a meeting of EU ambassadors on Monday, both Greece and Malta voiced reservations about the proposed measures. Sources indicate that their primary concern revolves around the potential impact on European shipping industries and energy prices. These nations are heavily reliant on maritime activities and fear that restricting services could disrupt supply chains and drive up costs for consumers.

Specifically, both countries have requested further clarification regarding proposed sanctions on foreign ports involved in transshipping Russian oil and increased scrutiny of shipowners to limit the number of vessels joining the Russian fleet. This suggests a desire to understand the broader implications and potential unintended consequences of the sanctions.

A Delicate Balancing Act

The situation underscores the challenges of achieving unanimous agreement within the EU on sanctions. All member states must support the measures for them to be approved, and modifications are possible before a final decision is reached. The EU aims to finalize the new sanctions package by the end of February, but the current impasse raises questions about whether that timeline is realistic.

Broader Implications: Sanctions Enforcement and Asset Freezing

This latest development comes amidst scrutiny of how effectively EU sanctions are being implemented across all member states. Recent data reveals that Greece and Malta are lagging behind other EU nations in freezing Russian assets subject to sanctions related to the war in Ukraine. Although Italy, Ireland, France, and Germany have frozen over €1 billion in Russian assets each, Greece has reported freezing only €212,000 and Malta €222,000 (though EU documents suggest a figure of €147,000 for Malta).

This disparity raises questions about the willingness or ability of these countries to fully enforce sanctions. One EU official, speaking anonymously, suggested that either Greece and Malta do not hold significant Russian assets, or they are not actively searching for them.

The Role of Shipping and Maritime Services

Greece and Malta are both major maritime hubs, with significant portions of their economies dependent on shipping and related services. The proposed sanctions could disproportionately affect these industries, leading to job losses and economic disruption. Malta, in particular, has a large number of ships registered under its flag, and a crackdown on shipowners could have a substantial impact on its economy.

FAQ

Q: What is the main point of contention regarding the new EU sanctions?
A: Greece and Malta are concerned about the potential impact on their shipping industries and energy prices.

Q: What is the EU aiming to achieve with these sanctions?
A: The EU wants to cut off revenue streams to Russia by restricting the services needed to transport its oil.

Q: Is there a deadline for finalizing the sanctions package?
A: The EU aims to finalize the package by the end of February.

Q: Are all EU member states equally committed to enforcing sanctions?
A: No, data suggests that Greece and Malta are lagging behind other EU nations in freezing Russian assets.

Did you grasp? The proposed sanctions represent the EU’s 20th package of measures aimed at pressuring Russia since the start of the conflict in Ukraine.

Pro Tip: Staying informed about EU sanctions is crucial for businesses involved in international trade, particularly those dealing with Russia or related entities.

Explore more articles on international sanctions and EU foreign policy to deepen your understanding of this complex issue.

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