Key Facts
• July 17: Slovak PM Robert Fico announced support for EU’s sanctions plan.
• July 18: EU ambassadors to vote on the 18th sanctions package against Russia.
• Sanctions target Russian energy, banking, and military industries.
• Proposal includes a 15% price cap reduction on Russian crude oil.
• Ban on transactions via Nord Stream pipeline and sanction-evading banks.
• Slovakia previously opposed sanctions, citing reliance on Russian gas until 2034.
• Malta also shifted stance, supporting the sanctions on July 17 evening.
• Unanimous approval is required for the sanctions to pass.
• Slovakia demanded compensation for losses from EU’s 2027 gas phase-out plan.
• Fico stated blocking sanctions now would be counterproductive.
Summary
Slovak Prime Minister Robert Fico, previously opposing EU sanctions against Russia, announced his support for the 18th sanctions package ahead of the July 18 vote. The sanctions, targeting Russian energy revenues, banking, and military sectors, include a 15% price cap reduction on Russian crude oil and bans on transactions through the Nord Stream pipeline. Slovakia, heavily reliant on Russian gas until 2034, had resisted prior sanctions, citing economic concerns. Fico emphasized that continued opposition would now be counterproductive. Malta also shifted its stance, expressing support for the sanctions. The EU requires unanimous approval for the package, which aims to further pressure Russia over its invasion of Ukraine.
