EU may soften anti-Russia sanctions – Politico

Restrictions may reportedly be eased on imports of Russian fertilizers, cement and other products

EU ambassadors may soften restrictions on some Russian products, Politico reported on Wednesday, citing senior officials and diplomats. The ambassadors are expected to discuss an eighth round of sanctions on Moscow at a meeting in Brussels later on Wednesday.

According to the report, they will be briefed by the European Commission on the new package, which will reportedly include a proposal of a price cap on Russian oil.

Under the deal, the EU will soften its sanctions on other products, effectively removing the shipping ban on Russian fertilizers, cement and other products, the unnamed officials told the media outlet. “It is do ut des,” one official was quoted as saying.

Tons of Russian fertilizer have been stuck in EU ports as a result of Western restrictions. Earlier this month, UN Secretary General Antonio Guterres said that the stranded goods could be sent to developing nations via the UN’s anti-hunger agency. The offer to donate an estimated 300,000 tons of Russian fertilizer, unable to leave EU ports, was initially voiced by Russian President Vladimir Putin.

READ MORE: Putin offers poor nations free fertilizers

In late July, Moscow and Kiev signed a deal unblocking Ukrainian grain exports via the Black Sea at UN-brokered talks in Istanbul. The agreement was also supposed to allow Russia to deliver fertilizer and food products to global markets. However, Moscow has repeatedly criticized the West for not honoring the deal, pointing out that Brussels only allows the bloc’s member states to buy them.

Find more stories on economy and finance in TROIB business