BRUSSELS – Presented before the European Parliament today, Wednesday 4 May, the sixth package of economic sanctions against Russia in the wake of the invasion of Ukraine reflects the expectations of recent days. The most interesting aspect concerns the embargo on Russian oil: the European Commission has proposed a very gradual purchase ban in order to ensure the necessary unanimity of the 27 at the time of approval of the new measures.
«We propose an embargo on oil coming by sea and by pipeline, crude and refined. However, we want a gradual embargo, which takes place in an orderly manner, to allow us and our partners to secure alternative supply routes (…) This is why we will phase out Russian supplies of crude oil and refined products within six months. by the end of the year, ”said European Commission President Ursula von der Leyen.
Looking for a compromise
The oil issue is particularly controversial. Some countries, such as Hungary and landlocked Slovakia, are totally dependent on Russian crude. Brussels’ attempt is to allow the Twenty-seven to find a compromise when it comes to approving the package in the coming days. The first meeting between the diplomatic representatives is scheduled for today Wednesday 4. The formal adoption of the package is expected by 9 May next.
Finance, Russian issuers and Patriarch Kirill
As circulated in recent days, the package also provides for the exclusion from Swift, the financial messaging system, of three credit institutions, including Sberbank, which controls a third of bank assets in Russia. The broadcasting of three Russian public broadcasters will be banned. “They will no longer be able to distribute their content in the EU, in any form, via cable, satellite, internet or smartphone applications”, added von der Leyen, deeming them “propaganda tools”.
In the list of personalities under sanctions, the Commission proposes to include the head of the Orthodox Church, Patriarch Kirill.