EU Commission President Ursula von der Leyen says in an interview with Bild am Sonntag that the EU is looking for ways to prevent Russia from circumventing the effects of possible oil sanctions.
17.4. 18:41 • Updated April 17th. 18:57
According to Von der Leyen, sanctions are planned especially for Russia’s largest bank, Sberbank, which accounts for 37 percent of the country’s banking sector. Along with Gazprombank, Sberbank is one of the most important intermediaries for natural gas and oil payments in Russia.
The president of the EU commission says that the EU’s priority is to suppress Russia and the president Vladimir Putin sources of income. According to von der Leyen, the problem is that Russia distributes oil around the world.
– It should not be the case that Putin charges higher prices in other markets for supplies that would otherwise go to the EU. To this end, we are developing smart mechanisms that will also allow oil to be included in sanctions in the next round, von der Leyen says.
Oil would be the most difficult sanctions decision so far
Sanctions on Russian oil and natural gas have been a difficult piece for many EU countries that are dependent on Russian imported energy.
Germany has so far opposed a total ban on imports and put forward a similar one coordinated migration model (moving to another service), which the EU introduced to get rid of Russian coal. In Hungary, for example, the Prime Minister, who recently won his fourth term Viktor Orbán has stated its opposition to oil sanctions.
EU sources interviewed by the US newspaper New York Times said on Thursday (you will switch to another service)that a proposal to ban the import of oil will be brought to the EU negotiating table at its earliest after the second round of the French presidential election. Incumbent president Emmanuel Macron faces the far right Marine Le Penin April 24.
Bild am Sonntag asked von der Leyen of Germany if he did not believe the German government would slow down the imposition of oil sanctions on Russia. According to Von der Leyen, Germany has quickly adopted five previous sanctions packages.
– The EU has never acted as united, determined and energetic as it does now. Germany has a part to play, von der Leyen says.