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Prime Minister to convene leaders at EPC to drive forward response to Putin’s stalling tactics
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Russian energy expected to be central target in widespread sanctions action in the coming weeks if Russia does not agree a ceasefire
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Comes as around 40 leaders meet at the European Political Community summit in Tirana today
Piling the pressure on the Kremlin will be the focus of discussions at the European Political Community [EPC] today, after Putin dodged US arranged peace talks in Istanbul yesterday [Thursday].
More than 40 leaders will attend the Tirana summit today, discussing shared challenges facing the continent and the threat to global stability and security posed by Putin.
It comes after President Zelenskyy underscored Ukraine’s position as the party of peace and travelled to Turkey in good faith this week, in preparation for peace talks with Russia.
But Putin failed to attend.
Leaders are expected to reiterate calls for a full and unconditional ceasefire today and demand Russia prove that they are serious about bringing its invasion to an end. For more than two months, Russia has failed to substantively respond to the US’ calls for a full, unconditional 30-day ceasefire and genuine peace talks.
Work has already begun on what further sanctions can be implemented to degrade Russia’s ability to prolong the war if Russia does not agree to a ceasefire. Today, leaders are expected to progress the conversations held in Kyiv at the weekend about sanctions, with a focus on Russian energy revenues.
Prime Minister Keir Starmer said:
People in Ukraine and across the world have paid the price for Putin’s aggression in Ukraine and across Europe, now he must pay the price for avoiding peace.
Putin’s tactics to dither and delay, while continuing to kill and cause bloodshed across Ukraine, is intolerable.
For the past three years, Ukraine has been fighting for peace and security, while Russia has sent thousands of young men and women to their deaths and compromised global stability.
Alongside the US and more than 30 other partners, we have been clear that we will not stand for Russia kicking a ceasefire down the road.
A full, unconditional ceasefire must be agreed and if Russia is unwilling to come to the negotiating table, Putin must pay the price.
During the summit, the Prime Minister is expected to lead a security roundtable with the Prime Minister of Sweden, Ulf Kristersson, as well as discussing with key partners including France, Germany, Italy, Poland and Ukraine latest efforts with the US to secure peace and an end of the bloodbath in Ukraine. It comes as Putin repeatedly ignored requests for peace talks in Istanbul this week.
The Kremlin’s biggest source of tax revenue is oil exports, and with forecasts cut by almost a quarter because of Western sanctions and compounding slowing global growth prices, further measures are likely to cause significant pain. Oil and gas tax revenues were already a third lower in dollar terms 2024 than in 2022, the first year of the war; and they are already down by almost 20% year-on-year in February and March.
The Prime Minister is clear that supporting Ukraine, and degrading Russia’s economy and ability to prolong the war as they wreak havoc across Europe, is vital to protecting national and Euro-Atlantic security, and delivering on the Government’s Plan for Change.
Russian aggression is plain for all to see. Just this week the Polish Prime Minister Donald Tusk revealed that the Russia Secret Service was behind a major blaze at a Polish shopping centre, while in a landmark decision, the International Civil Aviation Organisation ruled that the Russian Federation was behind the downing of Malaysian Airlines Flight MH17 in July 2014, killing 298 people, including 10 UK citizens.
Last week, the Prime Minister announced the UK’s largest ever package of sanctions on Russia’s Shadow Fleet. The sanctions will apply further pressure on the Russian economy, which is stalling as Putin’s national wealth fund starts to run out, the non-defence sector is in recession and global oil prices are falling.
Russia’s defence and security spending is now 40% of all federal spending and 8% GDP – a post-1990 high and double the size of federal social services spending.
