The President of the European Council Charles Michel said that the leaders of the European Union had agreed on a partial ban on imports of Russian oil and other restrictions under the 6th package of sanctions against Russia.
Source: The President of the European Council Charles Michel
European Union leaders have agreed on a plan to block more than two-thirds of Russian oil imports. The ban will only affect the oil that arrives by sea, but not pipeline oil, following opposition from Hungary.
“The deal cut off a huge source of financing for the Russian war machine.”
It is part of the sixth package of sanctions approved at a summit in Brussels, which all 27 member states have had to agree on.
Russia currently supplies 27% of the EU’s imported oil and 40% of its gas. The EU pays Russia around €400bn ($430bn, £341bn) a year in return.
In addition, the sixth package of sanctions will include other measures, including the disconnection from SWIFT of Russia’s largest bank “Sberbank”, personal sanctions against those responsible for war crimes in Ukraine, and a ban on the broadcasting of three other Russian state broadcasters in the EU.
Also, the European Union and the G7 have agreed to allocate 9 billion euros for the reconstruction of Ukraine.
“EUCO will continue helping Ukraine with its immediate liquidity needs, together with G7. EUCO is ready to grant Ukraine EUR 9 billion. Strong and concrete support to Ukraine’s reconstruction.”
See also: Poland proposes special measures for EU countries that have exemptions from the Russian oil embargo
