Summary of Key Points
US Sanctions on Russian Energy Giants: The United States, under Donald Trump, imposed sanctions on
Rosneft andLukoil . The implementation forLukoil was postponed, allowing time to sell foreign assets and cease activities in Bulgaria, pending US approval. These sanctions threaten the survival ofLukoil and will significantly impact Russia’s public finances, asRosneft is a major contributor to the Russian budget.Effectiveness and Purpose of Sanctions: The main question is whether the resulting financial strain will push the Kremlin towards peace negotiations, which is the US intention. However, the author doubts sanctions alone will quickly change Russian policy. Still, sanctions are justified against regimes violating international law, aiming to weaken Russia’s capacity to continue its aggression against Ukraine and to send a strong message of condemnation.
International and Humanitarian Considerations: The UN Security Council is unlikely to approve sanctions due to political constraints, so individual states must decide their own measures. Sanctions should respect humanitarian principles, not harm civilians, and aim to resolve the conflict, specifically to end Russia’s unjustified war against Ukraine.
Kremlin’s Stance and Leadership: The author believes Vladimir Putin is not seeking peace or a ceasefire and expects the war in Ukraine to intensify. Putin is increasingly isolated from diplomatic advice, relying instead on economic and security officials. The choice of Maxim Oreshkin (an economic adviser) to represent Russia at the G20 summit highlights the regime’s focus on economic stability and the importance of economic sanctions.
Putin’s Geopolitical Ambitions: Putin seeks a legacy as a great Russian leader and only values negotiations with major powers like the US and China, dismissing European leaders as less significant.
Recommended EU Response: The EU should act on three fronts: continue supporting Ukraine, rigorously enforce existing sanctions, and be ready to engage in serious talks with Russian leaders.
Role for António Costa and the EU: The author suggests that António Costa, as President of the European Council, should be given a mandate to open direct communication with Putin, aiming to start a dialogue that could benefit both sides and promote peace in Europe.
Urgency for European Action: There is a pressing need for the EU to act before the US and Russia reach an agreement that sidelines European interests. The EU must be persistent and realistic, recognising that Putin sees negotiations as a means to assert his ambitions, not to seek compromise. The EU should not be discouraged and must assert itself as a major geopolitical player.