The European Union has failed to finalize new sanctions against Russia after three days of negotiations, with further discussion on the matter slated for 22 July.
The E.U. unveiled a sanction package in June that would have placed restrictions on a new swath of goods from Russia. Included among the proposal was a complete ban on all Russian cod and restrictions on a number of other seafood species.
That initial suggestion has reportedly begun to soften over objections from E.U. member nations, with Germany, France, the Netherlands, and Poland all opposing the heavier restrictions on seafood.
Member states were working to enact a new package by 15 July to avoid removing caps on prices paid for Russian oil, which stands at USD 44.10 (EUR 38.56) per barrel, and would have increased to USD 58 (EUR 50.71) per barrel if no deal was reached. However, the European Commission managed to extend the cap slightly, setting a new deadline of 23 July.
Sanctions packages require unanimity from the 27 member states of the E.U., and according to Politico, Austria and Greece have objected to the current proposed packages. Austria has reportedly pushed back against the expropriation of EUR 2.44 billion (USD 2.13 billion) of its Russian operations, while Greece has raised issues with E.U. restrictions on trading Russian liquefied natural gas.
The exact details of the new sanctions package, and whether it still includes seafood products, have not been released by the E.U.
