Fico: Slovakia can't support new EU sanctions on Russia without energy solutions

Robert Fico, Slovakia's Prime Minister, said that the country will not support the EU's 18th sanctions package against Russia until the European Commission offers a solution for the problems the country would face if the bloc were to phase out Russian energy according to plan.

The Commission proposed a new set of sanctions on Tuesday against Russia, for its invasion of Ukraine over three years ago. These targeted Moscow's banks, energy revenues and military industry.

Fico called the EU executive's plans, announced last month by the EU executive, to phase out Russian energy and gas imports over the next few years "economic suicide".

Hungary, like Slovakia, relies on Russian oil and gas supplies and, like Slovakia, maintains warm relations with Moscow. It has rejected the plans.

This week, the EU will begin debating sanctions proposals that require unanimous approval in the bloc.

Fico said in a late-night Facebook post that Slovakia would not support the 18th package of sanctions against Russia until the European Commission provided a solution to the crisis it will face after Russia completely stops supplying gas, oil, and nuclear fuel.

The Slovakian government has not blocked previous sanctions packages.

Fico said that Slovakia will block any sanctions which harm its national interest.

In its new package of sanctions, the Commission proposes to ban transactions with Russia's Nord Stream Gas pipelines as well as banks who engage in sanctions-circumvention.

To reduce Russia's energy revenue, the Commission also proposed that the Group of Seven nations lower their price cap for Russian crude oil from $60 per barrel to $45 per barrel.

Fico has opposed sanctions against Russia for many years, claiming that they harm Slovakia and the EU far more than Moscow.

(source: Reuters)