Europe is fully committed to stopping indirectly financing the war waged by Russian President Vladimir Putin’s regime and moving towards a full ban of Russian gas and oil, said Latvian PM Krišjānis Kariņš during a meeting of EU member states and government leaders in Paris.
The PM participated in meetings of the Council of Europe, EU member states and government leaders in Paris last week. The topic of those meetings was provision of support to Ukraine and adoption of new sanctions against Vladimir Putin’s regime due to the war in Ukraine. EU leaders agreed that the path to joining the EU is open for Ukraine, as reported by Kariņš’s press-secretary Sandris Sabajevs.
Due to the war waged by Putin’s regime in Ukraine, which has changed the security situation in Europe a great deal, EU leaders discussed making Europe’s economy more resilient.
Reduction of EU’s dependence on Russia was an important topic discussed at this meeting, as was the topic of increasing defence expenditures.
«Europe is fully committed to preventing indirect financing of the war waged by Putin’s regime and moving towards a complete ban of Russian gas and oil,» stressed Kariņš.
EU leaders decided on multiple directions towards reducing dependence on Russian energy resources. This means diversification of fossil fuels, investments into renewable energy resources, establishment of new energy resource supply chains, creation of energy reserves, as well as investments into energy efficiency.
Due to Russia’s attack on Ukraine, leaders representing countries in the Council of Europe are committed to significantly increasing their respective countries’ defence expenditures with an emphasis on development of military capabilities.
Latvia’s PM stressed that his country has decided to increase its defence budget to 2.5% of GDP in the next three years.
Kariņš also approved of other member states’, such as Germany and Denmark, decisions to increase their defence budgets, which is sure to enhance Europe’s defensive capabilities.
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EU leaders also discussed Ukraine’s application to join the EU. The decision made by European leaders affirms – the path to joining the EU is open for Ukraine.
«We will continue working intensely to assist Ukraine on this path. This includes supporting Ukraine with Latvia’s experience,» said the PM.
The Council of Europe also discussed further sanctions against Vladimir Putin’s regime. The European Commission continues developing new sanctions. Officials are also looking into expanding sanctions in multiple directions to include energy, commercial, financial and other sectors.
The EU is preparing the fourth stage of sanctions against Russia, said the President of the European Commission Ursula von der Leyen at an informal summit of EU leaders that took place on Friday, 11 March.
She did not provide more information about the sanctions, but sources in DPA news agency reveal that EU member states and allies, the US included, have plans to cancel Russia’s ‘most favoured nation’ status in the World Trade Organisation.
Taking away this status may lead to adoption of tariffs for Russian goods.
PM: Europe is committed to completely banning Russian gas and oil
