Baltics see sanctions on Russian gas, oil as key element in next package – Lithuanian PM

VILNIUS –  Discussions on sanctions on Russian gas and oil are not easy, but all three Baltic countries have agreed that this must be a key element of the bloc's next sanction package, Lithuanian Prime Minister Ingrida Simonyte said on Friday. 

"We believe that this is a key element of the future sanction package, but it has to be agreed on, so that these sanctions are implemented," she said at a joint press conference with her Latvian and Estonian counterparts.  

Simonyte noted that an embargo on Russian gas and oil would have a significant impact on its economy. 

"It is not a very big secret that the Russian economy and the Kremlin regime are extremely dependent on the flow [of money] they receive for raw materials and, above all, for energy resources – oil and gas," the Lithuanian prime minister said. 

"Any reduction or disappearance of this source of funding would therefore have a very significant impact on Russia's economy and its ability to continue to finance the war," she added. 

Estonian Prime Minister Kaja Kallas said that the approval of all EU countries is needed for such an embargo, which requires convincing the states that are still heavily dependent on Russia's energy resources.

Latvian Prime Minister Krisjanis Karins believes that tougher sanctions against Russia should have been introduced earlier.

"We are working and will continue to work with our partners toward our goal of isolating the Russian economy so that they have as little money as possible to finance their ruthless war machine," he said.