Greece's Objections Halt EU Effort to Pass New Sanctions Package Against Russia
European Union nations failed for a third straight day to agree on a new sanctions package targeting Russia, causing temporary delays in the bloc's price cap on Russian crude oil. Greece has been a central point of dispute, demanding exemptions for its domestic shipping interests. The inability of the 27 member states to reach a unanimous consensus has forced diplomats to defer talks. Key sticking points include Greece's demands to protect its specialized Arctic LNG carriers, which could otherwise become stranded assets under proposed restrictions. Furthermore, Austria and Greece have raised separate concerns regarding previous EU limitations on Russian liquefied natural gas trade. The failure to pass the full sanctions package, which includes listings of individuals and increased oversight on oil smuggling, has forced a temporary extension of the $44.10 per-barrel price cap. Officials indicated that continued internal disagreements on trade policy and asset seizure have impeded decisive action, leaving the EU's unified approach to Russian energy exports compromised.