EU mulling ‘punitive’ new tariffs on Russia – Politico
Ukraine’s European backers are considering imposing “punitive tariffs” on Russian exports as part of potential new sanctions set for discussion at the European Political Community summit in Albania on Friday, Politico has reported, citing EU officials.
Western countries have imposed widespread sanctions against Russia since the escalation of the Ukraine conflict in 2022 in a bid to isolate the country, but have held back from a total trade embargo. The restrictions include a ban on Russia’s seaborne oil shipments, cutting the country off from the Western financial system, and freezing around $300 billion in foreign reserves.
The leaders of the UK, France, Germany, and Türkiye are meeting in the Albanian capital for an informal gathering on Friday, which is also being attended by Ukraine’s Vladimir Zelensky.
The talks in Tirana will focus on “dramatically” tightening sanctions against Moscow and include potential “punitive tariffs” on Russian imports, two EU officials told Politico.
EU ambassadors on Wednesday approved a 17th package of sanctions against Russia, which targets nearly 200 oil tankers that the West claims are part of a Russian “shadow fleet,” older vessels operating outside Western insurance systems.
The push for new sanctions has been inspired by US Republican Senator Lindsey Graham, who has proposed “bone-crushing” measures, including 500% tariffs on countries that continue to purchase exports from Russia if it resists peace talks. The senator said the goal is “to help [President Donald Trump]” gain leverage against Russia.
“We would take inspiration from the magnitude” of his proposal, one official told Politico.
Earlier this week, French Foreign Minister Jean-Noel Barrot said Western Europe and the US must “go further” and “prepare to brandish devastating sanctions” to “suffocate” the Russian economy “once and for all,” in order to compel Russian President Vladimir Putin to end the Ukraine conflict.
“Russia has found ways around the blockade imposed by Europe and the United States. Turning off the tap in this way is a way of grabbing Russia by the throat,” he told French broadcaster BFMTV on Wednesday.
Russia remains committed to seeking a long-term solution to the Ukraine conflict but will not tolerate being addressed in the “language of ultimatums,” Kremlin spokesman Dmitry Peskov said last week. He earlier noted that Russia is used to Western pressure and is not concerned about new sanctions.
In March, Putin said that a total of 28,595 sanctions had been imposed on Russian companies and individuals in recent years – more than the total number on all other countries combined. According to the president, the West sought to eliminate Russia as a competitor but its economy has only grown more resilient under pressure.
