russia-sanctions 29 February 2024

Ukraine PM calls for sanctions on Rosatom

Ukrainian prime minister Denis Shmyhal has called for the West to impose sanctions against the Russian atomic energy agency, Rosatom, as well as disconnecting banks from the SWIFT system, limiting imports of liquefied natural gas, gold, iron ore, titanium, aluminium, copper, nickel, and palladium from Russia to the EU, and banning the import of Russian agricultural products to the EU.

Shmyhal was speaking at a Ukrainian government event at which he also said that Ukraine is working with partners to create a ‘unified framework’ for the confiscation of Russian assets ‘in favour of Ukraine’. Policymakers have thus far resisted the ‘nuclear option’ of imposing sanctions on Rosatom, despite condemnation of Russia’s occupation of Ukraine’s Zaporizhzia power plant (now controlled by Rosatom).

However, experts say that the international nuclear supply chain is heavily dependent on Russian nuclear fuels such as NE 404. In 2023, despite Ukraine’s urging, the European Union rejected a proposal to sanction the organisation.

In written testimony before the US House Committee on Foreign Affairs, David Albright, president of the Institute for Science and International Security, said, ‘Rosatom, its entities, and its senior personnel should be subjected to far greater sanctions by the United States and its allies. There need to be sanction carveouts or waivers for nuclear reactor safety considerations, operating nuclear reactors, and for other Rosatom customers as they wind down existing contracts. However, the status quo is not sustainable. It leaves the United States and its allies vulnerable to political and economic pressure by Rosatom and its owner Russia, with the constant threat that this Putin-controlled entity could cut off energy supplies.’

 See Albright’s testimony at:

https://www.congress.gov/118/meeting/house/116830/witnesses/HHRG118-FA14-Wstate-AlbrightD-20240215.pdf

And the Shmyal’s observations at:

https://www.kmu.gov.ua/en/news/premier-ministr-ukraina-razomiz-partneramy-prahne-napratsiuvaty-iedynu-iurydychnu-ramku-dlia-konfiskatsii-rosiiskykh-aktyviv