Brussels – Slovakia believes that the latest EU sanctions package against Russia will not adversely affect its economy in its current form. Ongoing negotiations are underway, and Slovakia is prepared to support the package, provided it receives assurances about the EU’s plan to phase out imports of gas, oil, and nuclear fuel from Russia. This was stated by Juraj Blanár, the Minister of Foreign Affairs and European Affairs of the Slovak Republic, during the EU Foreign Affairs Council meeting in Brussels, as reported by TASR.
“We have made it clear that our support for the package is a technical matter tied to political considerations,” Blanár said, referencing the European Commission’s strategy to gradually halt energy imports from Russia by 2027.
According to the minister, Slovak Prime Minister Robert Fico plans to associate the 18th sanctions package discussion with the Eurocommission’s proposal at the upcoming European Council meeting and will seek guarantees and assistance in mitigating the adverse effects of ending reliance on Russian energy supplies. Blanár cautioned that this plan could have significant repercussions for the economy and consumer prices.
Fico has previously indicated that Slovakia will not endorse the proposed sanctions package unless it is offered a viable solution to the potential crisis stemming from a complete halt of gas, oil, and nuclear fuel imports from Russia. He has also requested a delay in the vote on the sanctions through the Slovak ambassador to the EU until the situation is addressed.
Blanár pointed out that severing ties with Russian energy sources will not only drive up prices but also elevate transportation costs for those resources. He noted that Slovakia, once a transit country for oil and gas, may soon become a destination nation.
“There are also arbitration risks that could have financial implications for Slovakia, amounting to billions, potentially as high as 20 billion euros. Therefore, we are seeking guarantees regarding how these negative impacts will be managed,” Blanár stated. (June 23)
“We have clearly stated that this is a technical aspect that we connect with the political. (…) There are risks from arbitration that will affect the Slovak Republic. These are billions, possibly even up to 20 billion euros. Therefore, we are requesting guarantees on how these negative impacts on the Slovak Republic will be addressed.” Juraj Blanár
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