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Prime Minister: EU must remain patient and not succumb to the sanctions fatigue

Date

2022 07 20

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Prime Minister Ingrida Šimonytė met with Mairead McGuinness, European Commissioner for Financial Services, Financial Stability and Capital Markets Union. The meeting focused on the implementation of the European Union sanctions against Russia and Belarus, their impact and the Community’s further steps.

‘Lithuania has consistently advocated for strong and broad sanctions against Russia and supports their comprehensive implementation. While Russia's aggression in Ukraine continues, sanctions must be applied resolutely and we must not succumb to sanctions fatigue’, Prime Minister stressed.

During the meeting, the effect the sanctions have on the EU countries' finances, the impact of the energy resources crisis and rising inflation were discussed.

Head of the Government noted that the EU must not succumb to the Russian pressure through its energy resources and must not make concessions that could lead to the loss of Ukrainian territories. Ms Šimonytė said that Europe must realise that relations with Russia will probably never be anything like they were before the war and that Europe must maintain its integrity when it comes to imposing sanctions and preserve unity, since internal disputes are something that Putin wants in particular.

‘The EU must remain patient, strengthen communication on sanctions among the European countries and not deviate from its course and long-term solutions such as the implementation of the European Green Deal. I believe that the EU will once again reaffirm that it is able not only to discuss but also to act successfully, as it has already demonstrated both in handling the COVID-19 pandemic and during the Russian war in Ukraine’, Prime Minister said.

The meeting also discussed the European Commission's work on digital finance. Lithuania supports initiatives aimed at promoting digital transformation both in the financial sector and more broadly – to overcome fragmentation in the Single Market, harmonise different regulatory approaches to digital finance and address new risks and challenges.