Seven of 28 EU countries support lifting Western sanctions imposed on Russia for its involvement in Ukraine, Russia’s TASS news agency reported citing a diplomatic source in Brussels. Austria, Hungary, Italy, Cyprus, Slovakia, France, and the Czech Republic are among them. However, EU Foreign Ministers did not pass any decisions on sanctions at the first meeting this year held on January 19. The sanctions will come under review again in March.
EU policy makers are gradually coming to the conclusion that the time is ripe to resume commercial and financial relations with Russia. In this context, EU Foreign Ministers are likely to pave the way for easing the current hawkish stance if Russia changes its policy in the conflict in Ukraine.
In March 2014, the EU applied the first round of economic sanctions against the Kremlin and several Russian officials and entrepreneurs. Restrictions concerned such sectors as energy, finance, and defense. Moreover, the sanctions curtail European investments in the Russian economy and ban some hi-tech imports to Russia.
The final package of sanctions was introduced in September 2014. Besides, the EU adopted extra sanctions against Crimea.
In response, Russia placed an embargo on food imports from the U.S., EU countries, Canada, Australia, and Norway. Moscow compiled the blacklist of EU individuals who are barred from entering Russia.
