Espreso. Global
Exclusive

Will not cut off money flow to Russia: climate activist Romanko calls EU's 12th sanctions package insufficient

20 December, 2023 Wednesday
20:33

Svitlana Romanko, an environmental lawyer and a climate justice activist, founder and director of the organization RAZOM WE STAND, stressed that EU's latest sanctions package against Russia does not include measures that would limit financial flows to Russia, including a ban on oil transportation at prices above a set cap, leaving open ways to circumvent the sanctions

She spoke about this on Espreso TV.

"The 12th package of sanctions is not as effective as we had hoped, not as far-sighted as we had hoped, and the EU took too long and too slow to decide on this package of sanctions. We expected to see a ban on exports of fossil gas from Russia, which we call liquefied natural gas, a complete ban on the purchase, registration or insurance of tankers transporting oil or oil products from Russia at inflated prices, at prices that do not meet the oil price ceiling set by the G7 sanctions coalition, which includes the European Union as a large institutional union," Romanko explained.

According to her, these are positive but weak steps towards a complete ban on the export of Russian crude oil, its products and natural gas, which is currently flooding the EU's world markets.

"We pointed this out in our recent report to all EU energy ministers, who make up the Council of the European Union chaired by Charles Michel, and who, among other things, decide on sanctions packages. Diamonds are good, but not enough, restrictions on crude oil transportation are good, but too little, and these are weak steps that will not add to the effectiveness and determination to limit financial flows to Russia. I would like to say here that this is an important step, but we expected much stronger steps," said the founder and director of RAZOM WE STAND, organization calling for a total and permanent embargo on Russian fossil fuels and an immediate end to all investment in Russian oil and gas companies.

Romanko stressed that EU countries such as Belgium and Spain, which allegedly help Ukraine, are developing renewable energy as another sanction against the Russian criminal regime, while they are the largest exporters of liquefied natural gas. Greece also maintained Russia's shadow fleet and transshipped oil to blur its origin and sell it above the maximum price.

"We have analysed them in our report, all 11 packages, and when we look at the continuity of the process, we see that the EU is very slow to implement changes, including control and monitoring of compliance with these sanctions. The price ceiling on Russian crude oil and its products has been in place for a year now, but we see that Russia is actually getting richer from it. In the first few months, Russia's oil export revenues fell by 180 million, but then they jumped. Unfortunately, this shadow fleet, which is mostly registered or insured by EU countries, is still able to transport illegal, grey Russian oil," the expert added.

Tags:
Read also:
  • News
2024, Friday
23 February
21:40
Review
Victorious news of 730th day of war: destroyed Russian Tor-M2 and Strela-10, €1.8bn in military support from Denmark
21:25
Updated
Ukraine’s forces target another Russian A-50 radar aircraft
21:20
Ukrainian army repels 18 Russian attacks in 5 directions - General Staff
21:00
DPRK supplies Russia with 1.5 million ammo produced in 1970s-1980s - Ukrainian intelligence
20:45
Canada announces additional sanctions against Russia
20:15
Russian army destroys almost 500 tons of grain overnight in Donetsk region
19:50
Ukrainian officials arrive at Poland's border, but do not meet with Polish counterparts
19:30
Updated
Russia’s missiles, attack drones kill at least four in Ukraine
19:12
Exclusive
Japan provides record aid to Ukraine, thus supporting US and EU - Zhevago
18:50
Ukrainians, your fight is our fight: Polish media thanks Ukraine for resisting Russian aggression
18:20
Ukraine war is giant Ponzi scheme: fake news for February 23
17:50
Russian forces use chemical weapons in Tavria sector - General Tarnavskyi
17:20
What long-range weapons can Germany provide to Ukraine?
16:50
Russia can use almost 300 combat aircraft against Ukraine - intelligence
16:20
Situation in eastern Ukraine isn't critical - Ukrainian military
15:51
Exclusive
Putin promises to give Transcarpathia to Orban as loyal ally - former Aidar battalion commander
15:30
Zelenskyy arrives in Lviv, signs security agreement with Danish PM Frederiksen
15:10
Biden announces new sanctions on Russia for second anniversary of full-scale invasion
14:55
Exclusive
Russian troops afraid to move around Avdiivka even after capturing city - military expert Zgurets
14:36
British intelligence explains why Putin needs to "clean up" information space in Russia
14:13
Exclusive
Scholz holds key: Military expert Zgurets reveals number of Taurus missiles Ukraine could acquire
13:58
Zelenskyy names reasons for Zaluzhnyi's resignation and change of military command
13:34
Pro-Soviet narratives imposed on deported Ukrainian children in camps in Belarus - Skhemy
13:14
 OSCE opens Living The War exhibition on Russian war crimes
12:50
Review
Ukrainian drone development during war and UAV strikes on Russian troops. Column by Serhiy Zgurets
12:14
OPINION
Putin prepares to annex Transnistria
11:53
EU countries seek to raise $1.5 billion to buy ammunition for Ukraine — media
11:33
Exclusive
Moldova faces serious challenges of 'PMR' annexation to Russia, Ukraine must be prepared - Ukrainian officer Lapin
11:05
Russia is becoming more open about repressions of Ukrainians in occupied territories - ISW
10:44
Russia loses 1,000 soldiers, 49 artillery systems and 32 UAVs per day in Ukraine - General Staff
10:25
Exclusive
Russian troops regroup in Avdiivka direction after significant losses - NGU spokesman
10:05
US to impose sanctions on over 500 Russian targets on second anniversary of full-scale invasion - media
09:43
"World is not really ready for Putin to lose power": Zelenskyy answers when war will end
2024, Thursday
22 February
22:10
Review
Victorious news of 729th day of war: weapons for Ukraine to strike behind enemy lines, Russia’s mass casualties at training ground
21:55
Russian troops try to breach Ukraine’s defense 31 times in Marinka direction, storm left bank’s bridgehead
21:40
Putin considers Biden's calling him a 'crazy SOB' as 'adequate reaction'
21:23
UN confirms over 30,000 civilian casualties in Ukraine as result of Russian aggression
21:05
Navalny's mother says authorities demand secret funeral, blackmailing her
20:50
Russia may unleash massive air assault on February 24: how many missiles, Shahed drones does it have?
20:31
Lavrov's plane denied refueling in Brazil: he will fly to meet with President da Silva as 'fellow traveler'
More news