The European Union has proposed some of the toughest sanctions against Russia yet, including a total ban on oil imports and sanctions against suspected war criminals.
The package, according to European Commission President Ursula von der Leyen, is designed to increase pressure on Russia while minimizing harm to Europe.
She stated that Russian crude oil would be phased out in six months.
New sanctions would be imposed on military officers suspected of war crimes in Bucha and Mariupol.
For weeks, the EU has been pondering how to wean itself off Russian oil and gas. It has already committed to halving gas imports by the end of 2022, and it now plans to phase out crude oil and refined products over the next six months.
“We will ensure that we phase out Russian oil in a systematic manner,” said the Commission’s president.
The package must first be approved by EU ambassadors, and it is expected to be approved in the coming days.
Slovakia and Hungary, which rely on Russian oil at the moment, would be given an extra year to find new suppliers. Budapest could not support the package in its current form, according to Hungarian Foreign Minister Peter Szijjarto, while Slovakia’s economy minister said his country wanted a three-year transition period.
Petr Fiala, the Czech prime minister, said he would also seek a two-to-three-year exemption to address pipeline capacity issues.
Last year, Russia supplied the EU with a quarter of its oil imports, and Germany was the biggest buyer. However, Germany has dramatically reduced its reliance on Russian oil imports, down from 35% to 12%. The UK, which is no longer in the EU, is already phasing out Russian oil, which accounts for 8% of its imports.
Kremlin spokesman Dmitry Peskov said Moscow was working on various options in response to the planned embargo. Sanctions were a double-edged sword for the Europeans and others, as the cost for European citizens would increase every day.
Get Published Today
Email: uzalendonews24@gmail.com to submit your story.
SUBSCRIBE TO OUR YOUTUBE CHANNEL
