MEPs seek EU sanctions against Russian energy firms

Members of the European Parliament (MEPs) are calling on the Commission to step up sanctions targeting Russia and its energy companies. In a non-binding resolution, MEPs said the EU should […]

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By Priyanka Shrestha

Members of the European Parliament (MEPs) are calling on the Commission to step up sanctions targeting Russia and its energy companies.

In a non-binding resolution, MEPs said the EU should act “against Russian firms and their subsidiaries, especially in the energy sector and Russia’s EU assets, against a background of violence designed to destabilise the east and south of Ukraine”.

Reports claim they suggested the South Stream pipeline carrying Russian gas to Europe without crossing Ukraine should not be built and that other sources should be found.

The 2,400-kilometre pipeline is due to run from Russia via the Black Sea to Bulgaria and further to Greece, Italy and Austria.

Hungarian Prime Minister Victor Orban however reportedly said he can’t support a clampdown on Russia as Hungary relies on it for around 80% of the nation’s energy needs.

Statistics from the European Commission suggest the EU relies on Russia for around 35% of its crude oil needs and 30% for gas.