Home » World » Dace Melbarde Analyzes Russia’s Economic Collapse Under Sanctions: Navigating Ongoing Pressure

Dace Melbarde Analyzes Russia’s Economic Collapse Under Sanctions: Navigating Ongoing Pressure

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EU Tightens Sanctions on <a data-ail="6020147" target="_blank" href="https://www.world-today-news.com/tag/russia/" >Russia</a> on Ukraine War Anniversary
Russia's invasion of Ukraine, the EU approved a 16th round of sanctions targeting Russia. These measures aim too tighten restrictions, close loopholes, and cripple Russia's war economy.The package includes sector measures to limit Russia's access to key resources and technologies.">
Russia, Ukraine, war, economy, European Union, foreign affairs, Dace Melbarde, Eduards Strong, Andriy Sibiha, military support, transatlantic relations, Georgia"> russia-on-ukraine-war-anniversary">

EU Strengthens Sanctions Against Russia on Ukraine War Anniversary

Brussels – Marking the somber third anniversary of Russia’s invasion of Ukraine, the European Union (EU) Foreign Affairs Council convened on Feb. 24 and approved a sweeping 16th round of sanctions targeting Russia. The new measures aim to tighten existing restrictions, close loopholes, and further cripple Russia’s war economy. The sanctions package includes extensive and targeted sector measures designed to limit Russia’s access to key resources and technologies.

The EU’s latest actions specifically target the temporary storage of Russian oil products within the EU, restrict imports of raw aluminum of Russian origin, and narrow the export possibilities of dual-use goods and items necessary for Russia’s military industry. The sanctions also designate an additional 74 vessels as part of Russia’s “Shadow Fleet,” bringing the total number of sanctioned ships to 153. Furthermore, six Russian airports and five ports, including Primorsk and Ustjluga, crucial hubs for transshipping Russian oil products, are now subject to sanctions.

Thirteen Russian banks are now prohibited from using the SWIFT data exchange system, and eight propaganda “media” outlets face restrictions. Individual sanctions have been imposed on 83 persons (48 natural and 35 legal), and 55 companies, including entities in Hong Kong, China, Turkey, the United Arab Emirates, and India, are sanctioned for their alleged roles in sanctions circumvention. Several Russian sanction elements have been aligned with existing sanctions against Belarus to prevent further circumvention.

EU Officials Emphasize Continued Support for Ukraine

Dace Melbarde, Foreign Ministry Parliamentary Secretary, emphasized the EU’s unwavering commitment to Ukraine. “The Foreign Affairs Council takes place on the day of three years as Russia began the brutal war in Ukraine,” Melbarde stated. “Despite Russian lies and efforts to portray ourselves as ‘Peace Pigeon’, we certainly know very well. Russia’s politics is a war, with its actions demonstrating the aggressive and imperialist nature and the true intentions. Right and lasting peace is certainly not in its interest.”

melbarde further stressed the urgency of providing lasting military assistance to Ukraine and strengthening the European defense industrial base. “We no longer have the time for discussions – we need to take rapidly to provide sustainable military assistance to Ukraine, strengthen the European defense industrial base and prevent the lack of ability,” she said. “Europe and like -minded allies have to do their utmost to continue to ruin the already collapsing Russian war economy. Today, a strong 16th round has been adopted, but even more must be done.”

Melbarde also called for exploring opportunities and legal solutions for the confiscation and diversion of all funds of the Russian central bank to support Ukraine.She firmly stated, “We exclude the possibility of lifting or softening sanctions against Russia, even if a ceasefire was concluded in Ukraine.”

Prior to the EU Foreign Affairs council,the Baltic and Nordic Foreign Ministers issued a joint statement,underscoring their united stance against Russian aggression.

“The baltic States have experienced how Russia satisfies the appetite at our expense. We have to learn from history hours. We need to do more and faster to have better positions for Ukraine both on the battlefield and at the negotiating table.”

D. Melbarde

High Representative Kaja Kallas opened the meeting with a moment of silence, punctuated by the sound of air raid sirens, a stark reminder of the ongoing conflict in Ukraine. A Ukrainian flag, belonging to one of the 36 units of the Sea Footbridge Brigade, was displayed during the meeting as a symbol of solidarity.

Appointment of EU Special Representative for Central Asia

The EU Foreign Affairs Council officially approved the appointment of Ambassador Eduards Strong as the new EU Special Representative in Central Asia. Strong,a Latvian national,will represent the EU’s interests in the region and work to strengthen EU-Central Asian cooperation in areas such as border security,counter-terrorism,illegal migration,and facilitating EU sanctions against Russia. Strong’s appointment marks the first time a Latvian has been designated as a special representative of the EU.

Ukraine’s Plea for Continued Support

Ukrainian Foreign Minister Andriy Sibiha addressed the EU Foreign Affairs Council remotely, emphasizing the critical importance of continued support for Ukraine. Support for Ukraine is existentially notable not only for ukraine,but for Europe as a whole, Sibiha stated. Ministers discussed the need to increase military support for Ukraine, increase EU Member States’ investments in defense, and unlock €6.6 billion in European Peace Mechanism funds. Discussions also included strengthening the mandate of the EU military assistance missions for Ukraine.

The proposal for military support for Ukraine includes a new financial support mechanism similar to the European Peace Finance Mechanism, but without replacing it. This mechanism would allocate funds based on each EU Member State’s gross national income per capita.

Melbarde reiterated Latvia’s commitment to providing military assistance equivalent to 0.25% of its GDP until at least 2026. She also noted that Latvia has trained approximately 8,000 Ukrainian soldiers sence 2023 and will provide 5,000 drones worth EUR 15 million in 2024, with a commitment of EUR 20 million in 2025 thru the drone coalition.

Transatlantic relations and Dialog with the United States

In discussions regarding transatlantic relations, Melbarde emphasized the need for further advancement and for Europe to be a strong, decisive, and capable partner with a clear action plan and investment. She stressed that Europe must take the lead role in its own safety and protection,significantly increasing investment in defense and developing its military industry.Latvian Foreign minister Baiba Braže is scheduled to visit the United States this week to discuss in-depth relations, including cooperation within NATO, regional and bilateral issues, and expanding economic cooperation.

The EU High Representative underscored the importance of EU unity in the context of the upcoming UN vote on Ukraine and the EU Member states’ resolution “on a comprehensive, fair and sustainable peace.”

Concerns Over Situation in Georgia

Regarding the situation in Georgia, Melbarde called for coordinated EU action to support Georgia’s civil society and autonomous media, notably considering suspended US support. She emphasized the need for a principled stance towards Georgian authorities, including sanctions against those responsible for human rights violations and repression against civil society representatives. Following the call of the High Representative of the EU, additional measures against responsible Georgian officials will be considered, along with increased support for civil society and autonomous media.

other discussions

the Council also addressed the situation in the Middle East and the wider region, including Syria and Lebanon. Ministers approved the cancellation of individual EU sanctions related to the promotion of Syrian reconstruction.

After a two-year hiatus, the EU Foreign Affairs Council held the 13th EU-Israeli Association Council. We express solidarity to Israel and its peopel after Hamas and Hizbull terrorist attacks and concerns about the fate of Hamas captured, Melbarde stated. Latvia is in favor of the unconditional release of all Hamas captured hostages and urgent access to humanitarian aid in Gaza. We look forward to the resilience of ceasefire in Gaza and Lebanon and the support of the parties involved in its full implementation. Simultaneously occurring, Latvia is in favor of achieving a comprehensive, fair and lasting peace, where two countries – Israel and Palestine – live alongside peace, safe and recognized. This is essential for the security and prosperity of both Israel, Palestinians and the wider region.

The EU Foreign affairs council also discussed the escalating conflict and deteriorating humanitarian situation in the eastern Democratic republic of Congo, where the M23 armed group, allegedly supported by Rwanda, continues its offensive. Ministers discussed possible EU measures to exert pressure on the parties involved in the conflict.

Conclusion

The EU’s 16th round of sanctions against Russia, approved on the third anniversary of the Ukraine war, represents a important escalation of efforts to weaken russia’s war machine. by targeting key sectors and individuals involved in sanctions circumvention, the EU aims to further isolate Russia and limit its ability to continue its aggression in Ukraine. The EU’s commitment to supporting Ukraine remains steadfast, as evidenced by ongoing military and financial assistance, and also diplomatic efforts to achieve a comprehensive and lasting peace.

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