EC presents three options for extending sanctions against Russia
The European Commission has presented three new options for extending sanctions against Russia to EU ambassadors. This is crucial for securing a $50 billion G7 loan to Ukraine.
This was reported by RBC-Ukraine with reference to Reuters.
To secure a $50 billion loan to Ukraine, the G7 countries want to be sure that the EU's asset sanctions regime will not be lifted.
The first option presented by the European Commission includes a five-year freeze on Russian assets, with a review every 12 months, and a qualified majority of EU countries required to unfreeze the assets.
The second option is to renew the asset freeze every 36 months by unanimous vote.
The third option is to extend the extension of all sanctions related to Russia to 36 months. Currently, EU sanctions against Russia can be extended every six months.
Author - Olena Madiak, 13/09/2024
