EU Commission wants to cut off Russian crude oil supplies completely – import ban to take effect by year’s end

EU Commission wants to cut off Russian crude oil supplies

In its sixth package of sanctions against Russia, the EU Commission is proposing a total ban on imports of Russian oil. In addition to oil, sanctions are imposed on Russian banks, individuals and the media.

4.5. 10:26 • Updated 4.5. 10:42

The European Commission is proposing a total ban on imports of Russian oil. The President of the Commission Ursula von der Leyen presented the contents of the Russia sanctions package to the European Parliament on Wednesday morning.

The Commission proposes that imports of crude oil be banned within six months and imports of refined products by the end of the year.

This is the EU’s sixth package of sanctions against Russia.

For sanctions to take effect, they must be adopted unanimously by EU countries. Hungary and Slovakia have opposed a ban on oil imports.

However, according to sources in the news agency Reuters and AFP, Hungary and Slovakia would be given the right to continue buying crude oil from Russia until the end of next year. The exception would apply to agreements already concluded.

According to Reuters, the intention is to prevent Hungary and Slovakia from voting against the import ban.

In addition to oil imports, the Commission is imposing sanctions on, among others, high-ranking Russian officers and other perpetrators of war crimes.

The Commission also said it wanted to disconnect Russia’s Sperbank from the Swift system.

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