The French President guaranteed this Friday, March 13, that the European Union’s 90 billion euro loan to Ukraine will be fulfilled, despite the Hungarian blockade, also rejecting European relief in sanctions on Russia due to the conflict in Iran.
“We decided, last December, to grant a loan of 90 billion euros. This commitment will be fulfilled and I say this here firmly and clearly,” said Emmanuel Macron during a joint press conference with Ukrainian President Volodymyr Zelensky, who was received in Paris at the Elysee Palace.
The Hungarian government led by ultranationalist Prime Minister Viktor Orbán, which maintains close relations with Moscow, blocked the European loan until Kiev reopens the Druzbha pipeline, which transports Russian oil to Hungarian territory through Ukraine.
“If disagreements arise, it is the duty of each nation to fulfill the promises made and the political commitments made by everyone in December,” Macron added.
According to Ukrainian authorities, the pipeline was damaged by an attack from Moscow and Volodymyr Zelensky said last week that it would be repaired within a month.
At the same press conference, Macron once again emphasized that the conflict started on February 28 by the United States and Israel against Iran, which resulted in a significant increase in the price of oil, would not change the sanctions policy of the G7, in particular the bloc’s European members, against Russia.
“The context of rising oil prices should not, under any circumstances, lead to a review of our sanctions policy against Russia: this is the position that the G7 defended and is, of course, the position of France and Europe”, said Emmanuel Macron.
However, on Thursday, the United States, which is also part of the G7, announced the lifting of sanctions against Russia relating to oil exports, the price of which per barrel of Brent oil recently surpassed the 100 dollar mark (around 87.05 euros, at current exchange rates) due to the conflict in the Middle East.
The G7 is made up of Germany, Canada, the United States, France, Italy, Japan and the United Kingdom, and is also part of the European Union (EU).
During a G7 meeting on Wednesday via videoconference, the French President, who currently holds and rotates leadership of the bloc, urged his North American counterpart, Donald Trump, to “clarify his ultimate objectives and the pace he intends to impose on military operations” in Iran.
The White House leader stated that the war in Iran will end “soon”, claiming that “there is practically nothing left to attack” in the Islamic Republic.
Regarding the ongoing conflict in Iran, the French President highlighted that “the conditions were not met” to carry out a mission to guarantee maritime trade in the Strait of Hormuz, which is “a war zone”, but insisted that an escort system must be organized when necessary.
Macron added on the same occasion that the G7 countries agree that the blockade of the Strait of Hormuz “in no way justifies the lifting of sanctions” against Russia, which have particularly affected the oil industry since the invasion of Ukraine in February 2022.
Kiev’s allies have enacted sanctions against key sectors of the Russian economy to try to diminish Moscow’s ability to finance the war effort in Ukraine.
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