EU penalties on Russia may be loosened| MENAFN.COM

Wednesday, 07 December 2022 12:45 GMT

EU penalties on Russia may be loosened


(MENAFN) According to Politico on Wednesday, which cited top officials and diplomats, European Union ambassadors may loosen bans on some Russian items. Later on Wednesday, the ambassadors is going to gather in Brussels to consider an eighth round of penalties against Moscow.

The European Commission is allegedly going to advise them on the new package, which would reportedly include a suggestion for a price ceiling on Russian oil, the article added.

According to the unidentified sources who spoke to the media outlet, as part of the agreement, the European Union would relax its sanctions against other goods, thereby lifting the shipping restriction on Russian fertilizer, cement, and other goods. One officer was quoted as stating, "It is do ut des."

Western penalties have resulted in tons of Russian fertilizer becoming trapped at European Union ports. The United Nation's anti-hunger agency might transport the stranded supplies to underdeveloped countries, according to remarks made by United Nation Secretary General Antonio Guterres earlier this month. Russian President Vladimir Putin made the first promise to contribute an estimated 300,000 tons of Russian fertilizer that was unable to reach European Union ports.

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