Costa hopes for approval of new EU sanctions against Russia as early as tomorrow

This was stated by the President of the European Council, António Costa, speaking on Tuesday at the annual conference of EU ambassadors in Brussels, Ukrinform reports.

"So far, there is only one winner in this war – Russia. It terribly undermines Ukraine's position by flouting international law. It gains new resources to finance its war against Ukraine as energy prices rise. It profits from the diversion of military capabilities that could otherwise have been sent to support Ukraine. And it benefits from reduced attention to the Ukrainian front as the conflict in the Middle East takes centre stage," Costa said.

Recalling that Russia's military aggression against Ukraine has been ongoing for more than four years, he stressed that it is a gross violation of the Charter of the United Nations and a turning point for the European Union.

"Since the very first day, the European Union has been unwavering in support to Ukraine on all fronts: financially, politically, diplomatically, in terms of security, and reconstruction," Costa noted.

He emphasized that in December the European Council approved a joint loan of EUR 90 billion, backed by the EU budget, to cover Ukraine's financial needs over the next two years.

"And we will deliver on this commitment taken by all leaders," Costa stated.

He called for continued pressure on Russia so that it agrees to a just and durable peace "that is acceptable to Ukraine and that does not undermine Europe's security."

"I hope that tomorrow we approve the rollover of the current sanctions and we move forward in the approval of the next package," Costa said.

Commenting on events in the Middle East, the President of the European Council said that the European Union calls on all parties involved to show maximum restraint and return to the negotiating table.

Emphasizing support for the right of Iranians to determine their own future and the belief that their human rights and freedoms must be fully respected, Costa said that "freedom and human rights cannot be achieved through bombs. Only international law upholds them. Protecting civilians, ensuring nuclear safety, and respecting international law is crucial. We must avoid further escalation. Such a path threatens the Middle East, Europe, and beyond. The consequences are severe, including the economic sphere, as demonstrated by the blockade of the Strait of Hormuz," he warned.

As Ukrinform reported, the EU Council for Economic and Financial Affairs met in Brussels on Tuesday, where one of the agenda items was finding ways to fulfill the EU's commitments to finance Ukraine amid Hungary's blocking of the EUR 90 billion loan agreed by all 27 EU leaders in December.

Photo: Office of the President