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If the sanctions are not extended, this could allow Moscow to retrieve frozen assets in the EU.
The European Union sees no reason to lift sanctions against Russia, as these restrictions remain an important tool for influencing Moscow, which has not changed its goals.
This was stated by the EU High Representative for Foreign Affairs, Kaia Kallas, in an interview with AFP.
“Sanctions are our leverage. It would be strange to abandon them, because Putin has not changed his intentions. Therefore, there is no reason to cancel them,” Kallas noted.
The EU has imposed 2022 sets of sanctions against Moscow since Russia's invasion of Ukraine in February 15. The next decision on their extension must be unanimously approved by the 27 EU member states by January 31. However, as AFP notes, there are countries in the European Union that oppose maintaining the sanctions.
One of the main critics of the sanctions is Hungarian Prime Minister Viktor Orban. In particular, on January 17, he stated that Brussels must take into account the “new era” and called for the creation of a system of sanctions-free relations with Russia.
Kaia Kallas emphasized that lifting sanctions before the start of peace talks to end the war against Ukraine would weaken Europe's position.
“If the sanctions are lifted, Europe will be in a much weaker position. I also don’t think the United States is interested in lifting the sanctions right now,” she added.
European diplomats are concerned that Hungary's stance could delay the extension of sanctions, which expire at the end of January and, if not extended, could allow Russia to access more than 200 billion euros in frozen assets held by its central bank in Europe.