“When the Leaders met in Versailles, they agreed to phase out our dependency on Russian energy. In the last sanction package, we started with coal. Now we are addressing our dependency on Russian oil.
Let us be clear: it will not be easy. Some Member States are strongly dependent on Russian oil. But we simply have to work on it. 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. We will make sure that we phase out Russian oil in an orderly fashion, in a way that allows us and our partners to secure alternative supply routes and minimises the impact on global markets.
This is why we will phase out Russian supply of crude oil within six months and refined products by the end of the year. Thus, we maximise pressure on Russia, while at the same time minimising collateral damage to us and our partners around the globe. Because to help Ukraine, our own economy has to remain strong,” Ursula von der Leyen (President of the EU Commission) said today during the plenary session of the EU Parliament.
Following the data provided by the Centre for Research on Energy and Clean Air (CREA), all payments to Russia for fossil fuels by European Union since 24th february 2022 to the moment this post has been published amount to over €52,612Bn.
Though a key advance, the cease on oil imports from Russia is just one of the new actions inside the 6th sanctions package against the Russian Federation propposed today by Ursula von der Leyen (President of the EU Commission). The 6th package of sanctions that also includes: listing high-ranking military officers and other individuals who committed war crimes in Bucha and who are responsible for the inhuman siege of the city of Mariupol; de-SWIFTing Sberbank (by far Russia’s largest bank, and two other major banks); and banning three big Russian state-owned broadcasters from EU members’ airwaves.
There may be excemptions for contracts already signed by Hungary and Slovakia with Russia
EU members most dependent on Russian oil are Hungary and Slovakia and both have been showing reluctant to approve such an import ban on oil imports as the propposed today by von der Leyen.
Still under debate, the ban needs for the support of all Governments to be approved.
Following the information published by Reuters, Brussels has propposed a longer period to implement fully implant the purchase ban for Hungary and Slovakia in order to avoid their veto against this sanction.
Holding war criminals accountable, further isolating Russian banks from the global financial sector and fighting against Russian propaganda
“…the future of the European Union is also written in Ukraine. And therefore, today, I would like to speak about two topics. First about sanctions and second about relief and reconstruction. Today, we are presenting the sixth package of sanctions.
First, we are listing high-ranking military officers and other individuals who committed war crimes in Bucha and who are responsible for the inhuman siege of the city of Mariupol. This sends another important signal to all perpetrators of the Kremlin’s war: We know who you are, and you will be held accountable.
Second, we de-SWIFT Sberbank, by far Russia’s largest bank, and two other major banks. By that, we hit banks that are systemically critical to the Russian financial system and Putin’s ability to wage destruction. This will solidify the complete isolation of the Russian financial sector from the global system.
Third, we are banning three big Russian state-owned broadcasters from our airwaves. They will not be allowed to distribute their content anymore in the EU, in whatever shape or form, be it on cable, via satellite, on the internet or via smartphone apps. We have identified these TV channels as mouthpieces that amplify Putin’s lies and propaganda aggressively. We should not give them a stage anymore to spread these lies.
Moreover, the Kremlin relies on accountants, consultants and spin doctors from Europe. And this will now stop. We are banning those services from being provided to Russian companies,” Von der Leyen added at the EU Parliament today.
Image over the headline.- Speech on 6th package of sanctions against Russia and relief on Ukraine before the EU Parliament on 4th May 2022. Photographer: Philippe Buissin. © European Union 2022. Source : EP
Related external links:
Related Eastwind links:
IEA, decided to prevent oil supply shortfalls through release of its reserves (UPDATED) -includes data on EU Energy dependence from The Russian Federation-
