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EU unveils plan to ban Russian oil imports

May 05, 2022

Brussels [Belgium], May 5: The European Union (EU) will phase out Russian crude oil within six months and refined products by the end of the year, European Commission President Ursula von der Leyen said Wednesday, announcing the sixth package of sanctions against Russia.
"We now propose a ban on Russian oil. This will be a complete import ban on all Russian oil, seaborne and pipeline, crude and refined," von der Leyen told lawmakers in the European Parliament in Strasbourg, France.
The package also includes a new list of sanctioned Russian military officers and other individuals, the "de-SWIFTing" of Russia's biggest bank Sberbank and two other major banks, the cutting-off of three Russian state-owned broadcasters from European airwaves and a ban on services of EU-based accountants and consultants to Russian companies.
The sixth sanction package aims to deprive the Russian economy of "its ability to diversify and modernize," von der Leyen said.
The European Commission president also pledged financial support to address Ukraine's immediate needs but gave no further detail about its amount.
Source: Xinhua