Politics Russia dismisses new EU sanctions as ineffective
Moscow has dismissed the new punitive measures in the EU's 14th sanctions package against Russia as ineffective. In fact, the EU is once again harming itself, the Foreign Ministry in Moscow announced on Monday. The West is not looking at the consequences for its own economy or for the prosperity of people in the EU, said Deputy Foreign Minister Alexander Grushko in Moscow. Russia expects economic growth of over three percent this year, more than ten times higher than in Germany, for example.
24.06.2024, 19:18
SDA
"The purpose of the sanctions was to strangle the Russian economy and destroy the cohesion of society. The EU has achieved the opposite," said Grushko. Russia also warned of a renewed rise in energy prices in the EU.
The foreign ministers of the 27 member states approved the sanctions in Luxembourg along with other new punitive measures due to the Russian war of aggression against Ukraine. The Foreign Ministry in Moscow announced in the evening that, in return, further representatives from politics, business and institutions from the EU would be banned from entering Russia. No details were given.
The Russian arms holding Vysokotochnye Kompleksy (High Precision Systems) announced that the sanctions against its companies, including a tank factory, were a sign of recognition that the military complex was working successfully. The punitive measures would have no impact on weapons production in the future either, it said.
For the first time, the sanctions package includes far-reaching sanctions against Russia's multi-billion dollar liquefied natural gas (LNG) business. It is envisaged that ports such as the one in Zeebrugge, Belgium, may no longer be used to ship Russian LNG to third countries in future. This should result in Russia being able to sell less liquefied natural gas due to a lack of transport capacity and generate fewer profits, which could be used to continue the war of aggression against Ukraine.
Russian analysts spoke of a blow to LNG producers. However, the sanctions are comparatively soft and there is a transitional period that allows Russian companies to find new customers and alternative routes, as was the case with the oil embargo. India and China - the Asian region as a whole - are already benefiting from the comparatively favorable energy offers of the raw material superpower Russia.
