Fifth sanction package welcome, but stronger measures needed

Author: Clara De Melo Ponce

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Renew Europe welcomes the proposal of a 5th package of sanctions, as outlined by the European Commission today. In particular, we are pleased with proposals for bans on Russian operated vessels from accessing EU ports, further export bans, enhanced financial sanctions, and that a specific coal import ban is now on the table. We ask for further coordination, so third countries who have yet to do so join EU sanctions.

In a resolution tabled in the European Parliament, Renew Europe goes further. We call for all Russian banks and financial institutions to be excluded from SWIFT and, among other wide-ranging measures, for a temporary ban on Putin's oil, coal and gas until Putin’s aggression ends, in order to starve his regime of the funds it needs.

Stéphane Séjourné, President of Renew Europe, said :

"This weekend's massacres have moved our conscience tremendously. It is impossible to imagine Europe would not react to these atrocities. Renew Europe is at the forefront of drafting two major resolutions on Ukraine this week in the European Parliament."

Luis Garicano MEP said:

"The EU has taken unprecedented steps, but it's clearly not enough. Our priority must be to starve Putin’s regime of the resources he needs to fund his despicable war machine. The bullets in Bucha were brought with our money. We need a temporary ban on Putin's oil, coal and gas."