European diplomats are preparing to tighten sanctions against Russia amid the possible re-election of Republican candidate Donald Trump as US president. Officials believe that the second term of the Republican will be able to influence the sanctions policy.
This is reported by Reuters sources.
EU officials and ambassadors are discussing initiatives that would keep restrictions against Moscow at least at the current level. They may be enforced more harshly even if Washington reverses course.
The measures are likely to include so-called comprehensive controls. This should help stop the supply of sanctioned goods to Russia. There are plans to expand sanctions on oil supplies. They are also discussing changing the requirement to renew the freezing of assets of the Central Bank of the Russian Federation every six months by the capitals of the bloc countries. The EU is currently looking for its own money to tighten restrictions.
As Reuters writes, any softening by the US will put Europe in a difficult position. The fact is that it is Washington that has more ways to punish those who violate sanctions.
EU sanctions against Russia
The Council of the European Union adopted the 14th package of sanctions against Russia in June 2024. Restrictions apply to energy, finance and trade. This is the latest package of sanctions against the Kremlin from Brussels.
The countries of the bloc seek to resume discussions of new sanctions against the Russian Federation in January 2025. Thatʼs when Hungary — Moscowʼs closest ally in the EU — will hand over control of political discussions as its presidency of the EU Council comes to an end. In October, Politico wrote that the head of the Hungarian government Viktor Orbán wants to cancel a $50 billion loan to Ukraine approved by the European Union and the G7 ("Big Seven").
The EU is preparing for the elections in the USA
The European Union is developing a two-stage trade strategy to counter Trump in the event of his re-election as US president. The EU believes that the universal 10% tax on imports already announced by the republican will lead to a reduction in exports from the EU by approximately €150 billion every year.
During his presidency, Trump has already imposed tariffs on goods from the EU. In 2018, he imposed tariffs on €6.4 billion worth of steel and aluminum imports from the EU and other countries on national security grounds. The EU responded by imposing €2.8 billion in tariffs. At that time, Ukrainian steel products also fell under these duties.
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Author: Anastasiia Mohylevets