VALLETTA (MALTA) (ITALPRESS/MNA) – Malta is holding up the European Union’s latest sanctions package against Russia, citing concerns that a proposed price cap on Russian energy could harm its shipping industry.
The proposed sanctions, which would be the EU’s 18th package since 2014, include a measure to cap Russian energy exports at 15% below market value.
While Malta agrees with the cap in principle, diplomatic sources told Times of Malta the country is urging the EU to simplify the “complex mechanism” and ensure it does not disproportionately affect EU shipping hubs like Malta.
Sources say Malta is particularly alarmed by what it sees as uneven international enforcement. While EU members would be bound by the cap, other G7 countries such as the US are not under the same obligation—raising fears of a competitive disadvantage for Maltese and EU-flagged vessels.
Concerns about enforcement and the wider impact on maritime trade have also reportedly been raised by Greece and Cyprus, though neither country has taken as strong a stance as Malta. Slovakia, meanwhile, is separately vetoing the sanctions due to concerns over its energy security and existing contracts with Russian supplier Gazprom.
Talks at Sunday’s EU Committee of Permanent Representatives (COREPER) meeting stretched for hours as diplomats attempted to bridge the divide. European Commission President Ursula von der Leyen has pledged to raise the issue at a recent G7 summit, but for now, the proposal remains blocked. Unanimity is required among EU states for the sanctions to proceed.
– Photo IPA Agency –
(ITALPRESS)
