2 hours ago
image source,Reuters
Von der Leyen is an ally of German Chancellor Angela Merkel
European Commission President Ursula von der Leyen announced the sixth round of sanctions against Russia, including the previously controversial oil embargo.
“We will ensure that Russian oil (imports) is phased out in an orderly manner,” she said. “In doing so, it will enable us and our partners to ensure that alternative routes of supply are found, while we exercise great care to minimise the impact on global markets.”
image source,Getty Images
Some EU countries had previously had doubts about banning imports of Russian oil products. If Germany immediately stops imports of Russian oil and gas, Europe’s largest economy will experience a sharp recession by 2023.
Specific details will be discussed and voted on in the next few days, mainly including:
- Sanctions on top Russian generals over allegations of war crimes in Bucha and Mariupol. “We know who you are and you can’t get away,” Von der Leyen said.
- Russia’s largest bank, Sberbank, will be dropped from the “Global Interbank System” (SWIFT), an international payments system used by many of the world’s financial institutions.
- The cable, satellite and internet connections of three major Russian state broadcasters in EU countries will be cut off, and they are seen as “microphones for amplifying Putin’s lies”.
Von der Leyen announced that the EU will end its dependence on Russian oil, “it’s not easy, but we have to do it”. All petroleum products from Russia, she said. will be banned. Among them, the crude oil embargo will take effect within 6 months, and the import of other petroleum products will be completely banned before the end of this year.
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Zelensky: Countries that buy Russian oil are making bloody money
Russian official: Europe will buy oil through third countries
Russian officials expect Europe to continue buying Russian oil through third countries once EU countries impose an embargo.
Vladimir Dzhabarov, a senior Russian lawmaker, told state-run RIA Novosti that European leaders were “a little crazy”.
“They said we’re not going to buy oil from us. Well, don’t buy it, we’re not going to ask you to buy it,” he said.
“You’ll still buy it, but only through a third country. Our oil is the same, just more expensive.”
According to Reuters, an EU source said that under existing contracts, EU countries Hungary and Slovakia will be able to continue to buy Russian crude until the end of 2023.
That means both countries could benefit from a proposed Russian oil embargo by the European Commission.
The European Union on Wednesday announced plans to ban imports of Russian crude oil for six months and refined products by the end of the year.
In order to persuade concerned countries not to veto the plans, Brussels suggested extending the embargo on Hungary and Slovakia, the report quoted sources as saying.