Macron to Impose Sanctions on Russia's Financial Services, Hydrocarbons if 30-Day Ceasefire in Ukraine Not Respected

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Updated May 13, 2025, 08:49 PM

French President Emmanuel Macron has announced that new sanctions will be imposed on Russia in the coming days if it does not respect a proposed 30-day ceasefire in Ukraine, proposed by Kiev and its European allies. These sanctions, coordinated with the United States, could target financial services and the hydrocarbons sector, and may include secondary sanctions against those reselling Russian hydrocarbons.

Macron emphasized the importance of peace in Ukraine, stating that the conflict affects the security and peace of the European continent. He reiterated France's commitment to supporting Ukraine without escalating the conflict into a third world war, and mentioned that the use of frozen Russian assets, aside from the interest they generate, is not currently a viable option.

The French president also addressed the broader implications of the conflict, noting that even the Ukrainians recognize they may not be able to reclaim all territories seized by Russia since 2014. This acknowledgment suggests a pragmatic approach to future negotiations.

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