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EU embargo on Russia may expire next year: Analyst

Tuesday, 13 December 2016 6:30 PM [ Last Update: Tuesday, 13 December 2016 6:30 PM ]

French President Francois Hollande (L) reacts after a joint press conference with German chancellor Angela Merkel at the Chancellery in Berlin on December 13, 2016. (AFP photo)

German Chancellor Angela Merkel and French President Francois Hollande have expressed support for extension of EU sanctions against Russia over the Ukrainian crisis. The European leaders claim that Moscow has not complied with its commitments under the Minsk peace accord, while the Russians accuse Ukraine of ignoring its obligations under the truce deal. The peace agreement was aimed at bringing an end to a conflict that has claimed 10,000 lives since 2014 as low-level skirmishes continue near the lines of battle in Ukraine and Crimea region.

Mark Sleboda, international relations and security analyst from Moscow, told Press TV’s Top 5 that the EU’s sanctions regime against Russia “may expire sometime next year.”

“The hegemonic powers in Europe – Germany and France – have managed to” impose embargoes on Russia, but this is their last attempt because their leaders will probably cede power, Sleboda said on Tuesday.

“This is really Angela and Hollande’s last tango before at least Hollande and very likely Merkel as well exit the stage at different times next year,” he said.

“This (sanctions regime) really is a bankrupt policy. There are forces throughout the EU that have long resisted the extensions of the sanctions because both the sanctions and the Russians’ counter-sanctions hurt their own economy; Italy, Greece Austria, Cyprus, Hungary foremost among those," the expert noted.

The sanctions regime against Russia “is probably going to go out the door next year with [US President-elect Donald] Trump coming into office, Hollande leaving and Merkel under threat,” he argued, saying, “These sanctions were only ... linked to the Minsk Agreement, [and] they were actually enacted because of the Russian annexation of Crimea.”

Currently in force until January 31 of next year, the EU sanctions are the subject of debate among member states, with some pushing for their removal since Russia has imposed retaliatory measures targeting European farmers in particular.

Imposed in July 2014 following the crash of Malaysia Airlines Flight MH17 over eastern Ukraine, the EU sanctions target the Russian energy, defense and finance sectors.

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