Business news from Ukraine

German Chancellor Scholz said EU will maintain sanctions against Russia for long time

18 July , 2022  

German Chancellor Olaf Scholz, in an article written for the Frankfurter Allgemeine newspaper, said that Europe knew from the beginning that sanctions against Russia would be in place for a long time.
“It was clear to us from the very beginning that the sanctions would have to be maintained for a long time,” the politician wrote.
He repeated his statement, made in May in an interview with the ZDF television channel, that the West would not agree to the lifting of sanctions in the event of a peaceful settlement of the Ukrainian conflict on “conditions imposed by Russia.”
At the same time, he acknowledged that most Germans are suffering from the consequences of the restrictions, including the high cost of gasoline and food.
“This path is not easy even for such a strong, prosperous country as ours,” Scholz added.
The article states that “the world economy is facing a challenge that has not been seen for decades,” and no country in the world can stand alone against such a development.
In this regard, Scholz called for the unity of the EU countries in policy towards Russia, noting that the EU has already demonstrated it.
“But we must not rest on our laurels,” he explained, adding that the EU must come to an agreement in other areas.
“For me, this means: no more selfish blockades of European decisions by individual member states. No more national single efforts that harm Europe as a whole,” he stressed.
In his words, “we simply can no longer afford a national veto, for example, in foreign policy, if we want to continue to be heard in a world of competing great powers.”
As reported, the EU Foreign Affairs Council will be held on Monday in Brussels. He plans to work in connection with the Ukrainian situation in three areas: support for Ukraine, sanctions against the Russian Federation, informing the international community about the consequences of the conflict, a source in the EU said.
“On the first part, we believe that there will be a discussion of additional military support for Ukraine,” a senior EU official told reporters on condition of anonymity, briefing them on the agenda of the ministerial meeting on Friday.
“There will be a discussion on sanctions (against the Russian Federation). We are preparing a number of measures,” the media interlocutor continued. He confirmed that during the discussion, council members will discuss a proposal to ban Russian exports of gold.
At the same time, the official noted that “we do not expect any decision on sanctions on Monday.”
With regard to military assistance to Kyiv, Brussels expects from the EU Council a “political decision” of the member states on the fifth tranche in accordance with the instructions of the European Council.

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