FT: EU considers new approach to sanctions against Russia

Brussels is considering a new approach to imposing sanctions on Russia after Greece delayed the adoption of the European Union's latest package of restrictive measures.

Source: Financial Times, as reported by European Pravda

Details: According to the FT, EU officials are looking for ways to speed up the approval of more targeted financial restrictions by reducing the ability of member states to use their vetoes during negotiations.

For several weeks, Greece had been demanding an exemption for vessels operated by Dynagas so that they can continue transporting Russian liquefied natural gas (LNG), making this a condition for approving a broader package of unrelated sanctions against Russia.

Three officials said discussions are now under way on how to curb this increasingly common tactic, as member states seek to protect companies that are continuing to do business with Russia.

One idea gaining support within both the European Commission and the most pro-Ukraine governments is to adopt sanctions individually or in small thematic packages instead of negotiating large, publicity-driven packages.

Officials believe this would reduce the risk of measures being delayed by national vetoes.

"This could be the last 'package' of sanctions. It's now very clear that this approach does not work any more," said one of the people, referring to the measures finally agreed on Thursday after weeks of Greek obstruction.

Since February 2022, the EU has adopted 21 Russia sanctions packages, traditionally grouping measures together and approving them unanimously with the backing of all 27 member states, often to coincide with symbolic dates such as the anniversaries of Russia's full-scale invasion.

However, this approach has increasingly allowed national vetoes over individual measures to delay unrelated sanctions that already had unanimous support.

The problem came to a head last week when Greece refused to approve the latest package until other EU member states agreed to exempt shipping company Dynagas, owned by billionaire George Prokopiou, from an unrelated sanction adopted in October 2025. That measure prohibits the company from transporting Russian LNG to non-EU countries from January 2027.

Greece's success in securing the exemption, allowing such shipments to continue, marked the first time the EU's overall economic sanctions regime against Russia had been weakened.

Athens' stance effectively held up other measures, including efforts to prevent Russia from earning additional billions from crude oil exports, sanctions imposing full asset freezes on 94 Russian financial institutions, and bans on transactions involving 33 banks.

Several EU diplomats involved in the negotiations described the tactic as "outrageous".

"I don't want to hear anyone talk about 'solidarity' anymore," one diplomat said.

Greek officials argued that the LNG shipping ban had been agreed by mistake, claiming it would hurt Dynagas rather than the Russian economy while benefiting competing shipowners from China and other non-EU countries.

Supporters of the proposed new approach argue that strong and effective sanctions could be approved quickly by the Council of the European Union without the publicity that accompanies large sanctions packages. Individual objections would no longer be able to block or delay unrelated measures.

However, some officials cautioned that the current strategy has helped member states recognise that many capitals are bearing the economic costs as a result of sanctions decisions, making governments more willing to share those burdens.

A spokesperson for the European Commission declined to comment on the possible change in sanctions strategy.

"Nonetheless, it's worth noting that after 21 packages of this scale since the start of the war, Russia is subject to a large number of sanctions that put it under significant pressure," the spokesperson added.

Background:

• On 23 July, the Council of the European Union formally adopted a new Russia sanctions package, describing it as delivering a powerful blow to Russia's energy sector, financial services and cryptocurrencies.
• The package had previously been blocked by several member states for different reasons, most recently by Greece.

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