Slovak PM threatens to veto 18th sanctions package against Russia over energy concerns

Slovak Prime Minister Robert Fico threatened on June 10 to veto the EU's upcoming 18th sanctions package against Russia if concerns over Slovakia's reliance on Russian gas and energy exports were not addressed.
The comments come as European Commission President Ursula von der Leyen announced on June 10 that the 18th package of European Union sanctions against Russia will include additional restrictions on energy, banking, and oil, among other areas.
The EU has proposed for the first time a ban on transactions involving the Nord Stream 1 and Nord Stream 2 pipelines, as well as a reduction in the oil price cap from $60 to $45 per barrel, as one-third of Russia's government revenue still comes from oil exports, according to von der Leyen.
Fico said on Facebook that he would block additional sanctions unless the bloc finds "a real solution to the crisis situation that Slovakia would face following a complete halt in the supply of gas, oil, and nuclear fuel from Russia."
Historically, Slovakia has been heavily reliant on Russian gas and energy transfer, serving as a key transit hub for Russian exports to Western Europe.
Since taking office in 2023, Fico has also reversed Slovakia's previous pro-Ukraine policy, ending military aid to Kyiv and questioning the value of EU sanctions on Russia.
EU foreign policy decisions, including sanctions, require unanimous approval by all member states. A Slovak veto could force concessions or delay enforcement in future rounds.
Fico's comments come as Slovakia's parliament passed a resolution on June 5 urging the government to oppose any new international sanctions or trade restrictions against Russia, citing alleged negative economic impacts. The non-binding resolution argued that sanctions imposed in response to Russia's full-scale invasion of Ukraine have driven up energy prices, disrupted supply chains, and harmed Slovak industry.
Fico subsequently vowed on June 8 that he would veto new sanctions if they harm national interests, adding that he would not support any measure that halts Russian fuel imports that are used to power Slovakia's nuclear power plants.
Unlike Ukraine-skeptic Hungarian Prime Minister Viktor Orban who has repeatedly obstructed and delayed the bloc's sanctions against Russia and military aid for Ukraine, Slovakia has not previously attempted to block EU sanctions.
On May 6 the EU presented a detailed roadmap to fully sever the bloc's energy dependence on Russia by 2027. National governments, including Kremlin-friendly Hungary and Slovakia, will be required to submit individual phase-out plans by year's end.
Read also: EU unveils 18th package of sanctions against Russia, targeting energy, banking, oil
We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The Hill

26 minutes ago

• The Hill

Hundreds protest in The Hague against NATO, days before the Dutch city hosts alliance summit

THE HAGUE, Netherlands (AP) — Hundreds of people protested Sunday against NATO and military spending and against a possible conflict with Iran, two days before a summit of the alliance in The Hague that is seeking to increase allies' defense budgets. 'Let's invest in peace and sustainable energy,' Belgian politician Jos d'Haese told the crowd at a park not far from the summit venue. Although billed as a demonstration against NATO and the war in Gaza, protesters were joined by Iranians who held up banners saying 'No Iran War,' the day after the United States launched attacks against three of Iran's nuclear sites. 'We are opposed to war. People want to live a peaceful life,' said 74-year-old Hossein Hamadani, an Iranian who lives in the Netherlands. Look at the environment. 'Things are not good. So why do we spend money on war?' he added. The Netherlands is hosting the annual meeting of the 32-nation alliance starting Tuesday, with leaders scheduled to meet Wednesday. The heads of government want to hammer out an agreement on a hike in defense spending demanded by U.S. President Donald Trump. The deal appeared largely done last week, until Spain's Prime Minister Pedro Sánchez wrote to NATO Secretary General Mark Rutte that committing Madrid to spending 5% of its gross domestic product on defense 'would not only be unreasonable, but also counterproductive.' U.S. allies have ramped up defense spending since Russian President Vladimir Putin ordered a full-scale invasion of Ukraine more than three years ago, but almost a third of them still don't meet NATO's current target of at least 2% of their gross domestic product. The summit is being protected by the biggest ever Dutch security operation, code named 'Orange Shield,' involving thousands of police and military personnel, drones, no-fly zones and cybersecurity experts. ___ Associated Press writer Molly Quell in The Hague contributed.

CNBC

33 minutes ago

• CNBC

U.S. strikes in Iran spark airline cancellations and travel turmoil

Commercial airlines around the world on Monday were weighing how long to suspend Middle East flights after the U.S. struck Iran. Singapore Airlines, one of the highest-profile in Asia, had called the situation "fluid" on Sunday as it cancelled flights from Singapore to Dubai following a security assessment. The Middle East route has become more important for flights between Europe and Asia since Russian and Ukrainian airspace closed due to war, but flight tracking website FlightRadar24 showed empty space over Iran, Iraq, Syria and Israel. Air France said on Sunday that it cancelled flights to and from Dubai and Riyadh on Sunday and Monday. British Airways, owned by IAG, also cancelled flights to and from Dubai and Doha for Sunday. It was still reviewing the situation, it said in a statement on Sunday evening, when asked about later flights. Missile and drone barrages in a growing number of conflict zones represent a high risk to airline traffic, and an organization that monitors flight risks, Safe Airspace, a website run by OPSGROUP, warned on Sunday that U.S. attacks on Iran's nuclear sites could heighten the threat to American operators in the region. In the days before the U.S. strikes, American Airlines suspended flights to Qatar and United Airlines UAL.O did the same with flights to Dubai. Airlines are also concerned about a potential spike in oil prices following the U.S. attacks, which will increase the cost of jet fuel. Israel meanwhile is ramping up flights to help stranded travellers at home and abroad. The country's Airports Authority says that so-called rescue flights to the country would expand on Monday with 24 a day, although each flight would be limited to 50 passengers. Israeli airline El Al on Sunday said it had received applications to leave the country from about 25,000 people in about a day.

Yahoo

38 minutes ago

• Yahoo

Women are getting wealthier — and they don't invest the same way as men

Women's share of retail financial assets in the US and EU is set to reach between 40% to 45% by 2030. Factors like declining marriage rates and higher earnings have played a role in the trend. Commentators say women invest more cautiously than men, focusing on goals and values. Women are becoming richer, and they're changing the face of wealth. According to a report by McKinsey published last month, women control about a third of all retail financial assets in the US and the European Union. By 2030, that proportion is expected to rise to between 40% to 45%, wrote Cristina Catania, global co-convener and European lead for the risk and resilience practice, and Jill Zucker, senior partner and co-leader of McKinsey's global growth transformation service line. The report is based on a survey of about 13,000 American and European investors, nearly half of whom were female financial decision makers. It found that between 2018 and 2023, global wealth rose by 43%, but jumped by 51% for women. Women's expanding control of assets is being driven by a combination of factors, including a continuing decline in marriage rates, the ongoing boost in women's average earnings, demographic trends like longer life expectancies, and a broad shift in attitudes about women managing their own finances. As women become wealthier through investing, it's becoming clearer that they don't approach it the same way as men. "Women are much more risk-aware," Anna-Sophie Hartvigsen, cofounder of financial education and investment platform Female Invest, told Business Insider. "I would like to call it much more realistic in their own ability to invest." She said women are less likely than men to invest emotionally. "On average, men trade a lot more often than women because they believe they can beat the market or they read something in the news, and they get pumped up or afraid, and then they invest based on that," Hartvigsen said. Female investors, in her view, tend to be more calm, more realistic, and better at assessing risk. However, Katie Geery, an advisor at Rise Private Wealth Management, says being more cautious can also hold women back by leading them to miss out on opportunities to build wealth. "It is important to work with a trusted financial advisor who understands your risk tolerance and can walk you through making well-educated investment decisions based on your long-term goals," she told BI. The aims of investing also sometimes differ between men and women. "Women prefer to invest toward achieving specific goals rather than chasing the highest returns," said Avanti Shetye, financial planner at Wealthwyzr. Geery said female investors tend to be more focused on philanthropy and gifting. They often consider their values when buying stock and want their purchases to help make a better impact on the world. "Women often seek financial advisors who are empathetic and take the time to get to know them on a more personal level to gain a deeper understanding of their goals and values," she said. On Female Invest, Hartvigsen said the principles its members care about the most include climate, especially a firm's carbon footprint, and diversity in leadership, in terms of a board having a good gender balance. For Shetye, it's important to start investing early. "Women tend to be primary caregivers for children or aging parents and often take unpaid time off," she said. "Not only that, women statistically live longer than men, which implies that women would need to invest as much as they can as early as possible so that their portfolios last them through retirement." Hartvigsen said long-term financial planning is vital: "When you do that, it doesn't matter what happens today." Both agree that this plan should be grounded in expert advice. "Working with a financial planner whose planning process is rooted in financial education can help provide comfort and security to stay consistent even in the roughest of markets," Shetye said. But she also believes that practice is more important than perfection. "You are never going to know everything there is to know about investing," Shetye said. "The key is consistency, and time will do the heavy lifting." Hartvigsen advises her clients to invest monthly on the same day and to diversify their investments. "If you do that, historically, it has been near impossible not to make money in the long run." Read the original article on Business Insider 登入存取你的投資組合