Part 9/12:
EU officials have signaled caution, emphasizing that tariffs are not part of their current sanctions toolkit. Instead, Brussels focuses on expanding existing measures, such as blacklisting more Russian entities and possibly some Chinese firms. While some Chinese and Indian companies have already faced sanctions, further tariff escalation is deemed risky due to potential trade disruptions and economic retaliation from Beijing and New Delhi.
European Commission President Ursula von der Leyen hinted at increased sanctions in her recent State of the Union address, including plans to accelerate the phase-out of Russian fossil fuels by 2027 and scrutinize certain shipping operations linked to the Kremlin. However, the EU remains cautious, balancing economic stability with geopolitical pressure.