EU seeks to ban oil imports from Russia, hints at sixth package of sanctions on Russia

EU seeks to ban oil imports from Russia, hints at sixth package of sanctions on Russia

Brussels - European Commission President Ursula von der Leyen, European Union’s top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia, target the country’s biggest bank and major broadcasters, the sixth package of sanctions on Russia.

Von der Leyen spoke while addressing the European Parliament in Strasbourg, France, proposed having EU member nations phase out imports of crude oil within six months and refined products by the end of the year.

The EU gets about 25% of its oil from Russia, most of which goes toward gasoline and diesel for vehicles.

If approved, the ban on oil imports would be the second package of EU sanctions targeting Russia’s energy industry.

The EU has started discussions on a possible natural gas embargo, but agreement among member countries on targeting the fuel used to generate electricity and heat homes is more difficult to secure considering the region gets about 40% of its natural gas from Russia.

Hungary and Slovakia have already said they wouldn’t take part in any oil sanctions.

EU diplomats confirmed that the European Commission’s plans also include an asset freeze and travel ban on the head of the Russian Orthodox Church, Patriarch Kirill of Moscow. The diplomats have direct knowledge of the discussions but were not authorized to speak publicly as negotiations continue.

Banks are also in EU’s sights, most notably Russia’s biggest, Sberbank. Von der Leyen said the aim is that “we de-SWIFT Sberbank.” SWIFT is the major global system for financial transfers.

Von der Leyen branded the television channels “as mouthpieces that amplify Putin´s lies and propaganda aggressively. We should not give them a stage anymore to spread these lies.”
-AP

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