On Monday, the European Union (EU) espoused new sanctions against Russia over its involvement in the five-month Ukraine war however adjourned enforcing them to allot time whether Russia's vow to uphold a truce in Ukraine is holding.
As per the Wall Street Journal, the delay for imposing new sanctions was advocated by some EU nations and was led by Finland. The new sanctions are against Russia for causing Ukrainian crisis. The adjournment of the sanctions will be at least for a few days allowing time for the evaluation of the possibility of a truce in Ukraine devoid of risking additional trade retribution by the Kremlin.
The new EU sanctions that were originally due to take effect on Tuesday are targeting the ability of Russia's top oil producers to raise capital in Europe. According to EU diplomats, some EU nations opposed additional punishments of Russia in its vow for a cease-fire that was declared Friday and still largely intact on Monday. It is an opportunity to postpone the new EU sanctions and avoid further reprisal from Russia.
The European Union and the United States have already levied several rounds of economic sanctions against Russia's apparent participation in destabilizing Ukraine on its five-month Ukrainian crisis. The Russian side responded by announcing a year-long ban on certain food imports from the EU nations, the United States, Canada, Australia and Norway.
The EU Summit was held in Brussels, Belgium on August 30, European officials pressed the European Commission to generate proposals for more sanctions against Russia within a week. However, the judgment of the EU member states on sanctions stayed at odds and Slovakian Prime Minister Robert Fico called on the EU to adjourn imposing new sanctions against Russia.
The European Union also said on Monday that the EU's second economic penalties package against Russia was adjourned by the 28-governments' bloc. The nations will evaluate the status of the truce in a meeting in Brussels Wednesday.
The truce between pro-Russian separatists and the Ukrainian government on September 5 has elevated the vision of a long-term cease-fire that would be the prime breakthrough thus far to stop a conflict that has slain no less than 3,000 people and ruined Russia's affairs with its former Cold War adversaries.
EU President Herman Van Rompuy said through a statement late Monday that the entry of enforcing the new sanctions through the Official Journal publication will happen in the next few days and the adjournment will leave time for an assessment of the implementation of the truce agreement and the peace proposals. He added that depending on the situation on the ground, the EU stands ready to assess the agreed sanctions in whole or in part.
Russian Foreign Minister Sergei Lavrov said Monday that the truce appears to be observed on the whole. And the EU nations are hopeful that the truce between Russia and Ukraine will be long-lasting to finally halt the conflict between the two countries.
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