EU's Russia sanction talks hit roadblock over Kyiv’s 'war sponsors' list

Negotiations over the EU’s 11th package of sanctions on Russia have stalled due to opposition from Greece and Hungary, which want their companies removed from a list of ‘war sponsors’ compiled by Kyiv, according to a report. According to a Politico report, citing multiple anonymous diplomatic sources, two rounds of talks in Brussels ended with no deal in sight. According to reports, Kyiv’s infamous list of “sanctions-evaders” and “international sponsors of war,” which includes numerous European businesses merely because they refused to sever all business relations with Russia, is the biggest obstacle. The list, which was compiled by the National Agency on Corruption Prevention (NACP), includes companies such as German wholesaler Metro, French retailer Auchan, Italian cement company Buzzi Unicem and Austrian banking group Raiffeisen. Hungary was the only EU state to voice objections at a foreign ministers meeting, expressing concerns that Kyiv’s accusations against OTP Bank could be formalised with the bloc’s next round of sanctions. Greece joins in On Wednesday, Greece reportedly joined in, saying allegations of sanctions evasion could be “very damaging” to its economy as well. “Greece reiterated that, should there be concrete evidence of violation of sanctions, these should be brought to the attention of the member states concerned, at the technical level, so that this be adequately investigated and then due action will be taken,” the Politico report quoted an unnamed EU diplomat as saying. According to the report, the Ukrainian list and the EU’s next round of sanctions are not linked, and that Athens and Budapest are simply holding up the negotiations for political leverage. However, EU diplomats are hesitant to publicly name and shame the countries stalling the talks, supposedly out of fear that other member states whose companies are in Kyiv’s crosshairs could also rebel. Josep Borrell, Ukraine may work on solution Citing two sources, the report said that the EU’s top diplomat Josep Borrell acknowledged the problem, and “it is now up to him to work with the Ukrainians on a solution.” Budapest has taken a neutral stance regarding the conflict between Moscow and Kyiv, refusing to provide military aid to Ukraine or allow Western aid to pass through its territory. Although Hungary has largely taken part in the current EU sanctions on Russia, it has repeatedly criticised the restrictions and opposed those that would affect its own economy, including its conventional and nuclear energy sectors. Athens has also defied the bloc’s efforts to cut all economic ties with Moscow, with imports of Russian goods by Greece more than doubling to a record €9.33 billion ($10 billion) last year. However, the trade balance between the two countries in 2022 was negative, with the value of Greek exports to Russia decreasing to €156.4 million from €206.6 million in 2021. With inputs from agencies Read all the Latest News, Trending News, Cricket News, Bollywood News, India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.