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EU plans sixth round of Russia sanctions targeting biggest banks, oil

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EU plans sixth round of Russia sanctions targeting biggest banks, oil

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European Commission President von der Leyen said that the EU plans to impose a sixth round of sanctions on Russia, mainly targeting Russia’s largest commercial bank Sberbank, and will also include sanctions on oil.

According to Reuters, the German newspaper Bild published an exclusive interview with von der Leyen on Sunday to discuss the focus of the next round of EU sanctions on Russia. Von der Leyen said: “We will further target the Russian banking sector, especially Sberbank, which accounts for 37% of Russian banks’ financial (business volume). Also, of course, there will be energy issues.

Russia’s largest bank, Sberbank, has so far been “survived”, along with Gazprombank, one of Russia’s main payment channels for oil and gas. Despite Russia’s invasion of Ukraine, EU countries are still buying Russian oil.

Von der Leyen said the EU was trying to implement “smart and flexible mechanisms” that would allow Russian oil to also be included in the next wave of sanctions. Von der Leyen said that the main goal of the sanctions is to continue to squeeze Russia’s oil and gas revenue, and the sanctions will apply to all member states. She stressed that capable countries should act quickly, because only by doing so can really help Ukraine.

Von der Leyen said Russian President Vladimir Putin should not be allowed to earn even higher fees in other markets with oil and gas that would otherwise be supplied to the EU. The priority now, she said, is to squeeze Putin’s income.

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In addition, it is understood that the EU will not introduce a new round of sanctions before the second round of the French presidential election on the 24th of this month, so as not to affect the election.

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