EU takes major step toward Russian oil ban, new sanctions

May 4, 2022

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BRUSSELS –

Wednesday’s call by the European Union’s highest official to the bloc’s 27 member nations was made by the top official. He asked for the ban on oil imports from Russia, and targeted Russia’s biggest bank as well as major broadcasters in a sixth set of sanctions related to the war in Ukraine.

Ursula von der Leyen is the President of the European Commission. She addressed the European Parliament, Strasbourg, France. She suggested that EU member states eliminate crude oil imports within six months, and reduce the imports by refined products by year’s end.

Von der Leyen stated, “We will ensure that Russian oil is phased out in an orderly way, in a fashion that allows us to secure alternative supply routes for our partners and minimizes the impact upon global markets.” said.

These proposals must be approved unanimously before they can take effect. They are likely to be the topic of intense debate. Von der Leyen acknowledged that it would be difficult to get all 27 members countries, some of which are landlocked and heavily dependent on Russia for their energy supplies, to agree on oil sanctions.

About 25% of the oil that is imported to the EU comes from Russia. Most of this oil goes towards gasoline and diesel for cars. Russia supplies about 14% of diesel, S&P Global analysts saidA cutoff could lead to already high prices of truck and tractor gasoline.

If approved, this ban on oil imports by the EU would be the second set of EU sanctions against Russia’s lucrative energy business since it invaded Ukraine on February 24, 2014.

The EU approved previously an embargo on coal imports in addition to the sanctions against various individuals and entities, including Russian President Vladimir Putin.

Although the EU has begun discussions about a possible natural-gas embargo, it is difficult for member countries to reach consensus on how to target the fuel that generates electricity and heats homes. About 40% of the region’s natural gas comes from Russia.

Slovakia and Hungary already have saidThey would not take part in any oil-related sanctions. Von der Leyen did not elaborate on whether they would be exempted from the sanctions, but it seemed likely.

Russia and the EU are “playing a game of chicken.” It is difficult to predict which side will win. Fear of running out of money. Or Europe for fear that the lights might go out,” James Nixey is the director of London’s Chatham House thinktank’s Russia and Eurasia program. said.

Von der Leyen also saidEU officials should be targeting high-ranking military officers as well as others who “committed war crimes in Bucha”, a suburb of Kyiv. According to Ukrainian officials, the mass killing of civilians in Bucha was caused by Russian troops retreating from Bucha.

“This sends a further signal to all those who participated in the Kremlin’s war: We are aware of your identity. We will hold your hands accountable. “You’re not going to get away with it,” von der Leyen stated to the lawmakers.

EU diplomats confirmed the existence of plans by the European Commission to also place an asset freeze on Kirill of Moscow and a travel ban on him. Although they have direct knowledge of the discussions, diplomats are not permitted to speak publicly at this stage.

Kirill is a longtime Putin ally who has justifiably defended Russia’s invasion against Ukraine. In March, he said that the conflict was part of a struggle against sin. He also stated that liberal foreigners were pressuring him to hold gay parades as a condition for his admission.

Von der Leyen saidPutin claimed that his intention was to “to wipe Ukraine off the map”, but he predicted that he would fail in this deadly endeavor. She stated that Ukraine has “risen in bravery, in unity.” said. “And it’s his country, Russia that Putin is sinking.”

The EU executive arm is also interested in banks, including Russia’s largest, Sberbank. Von der Leyen saidThe goal is to “de-SWIFT Sberbank”. SWIFT, the world’s largest system for financial transfers, is the most important.

“We will also deSWIFT two major Russian banks. “We will also de-SWIFT two other major Russian banks,” she stated. said.

Von der Leyen said that anyone spreading misinformation about the war on Ukraine would be targeted.

Three big Russian state-owned broadcasters are being banned from our airwaves. They won’t be allowed to distribute any of their content in the EU in any form (either via satellite or cable) she stated. said.

Von der Leyen didn’t name the broadcasters. He instead referred to the channels as “mouthpieces that amplify Putin’s lies, propaganda aggressively.” They should not be allowed to spread these lies on our television screens.”

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Danica Kirka from London contributed to this article

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