The European Union (EU) is preparing to decree the sixth package of sanctions against Russia for its invasion of Ukraine. Oil and natural gas exports will be the main target, but more Kremlin-allied banking institutions and media outlets have been added.
So far, only Slovenia and Hungary have opposed it, two Eastern European countries with populist governments.
European Commission President Ursula von der Leyen, in a speech to the bloc’s parliament in Strasbourg, France, proposed that EU member countries phase out imports of crude oil within six months and refined products by the end of the year.
“We will ensure that we phase out Russian oil in an orderly manner, in a way that allows us and our partners to secure alternative supply routes and minimize the impact on global markets,” von der Leyen said.
The package must be approved unanimously to enter into force and is likely to be the subject of intense debate, given the position of Slovenia and Hungary.
Hungary and Slovakia do not accept energy embargo of the European Union to Russia
Von der Leyen admitted that getting the 27 member countries, some of them landlocked and highly dependent on Russia for energy supplies, to agree to oil sanctions “will not be easy”.
The EU gets around 25% of its oil from Russia, most of which goes into gasoline and diesel for vehicles. Moscow supplies about 14% of diesel, analysts at S&PGlobaland a cut will inevitably lead to a rise in fuel prices, which have already skyrocketed in recent weeks.
If passed, the ban on oil imports would be the second package of EU sanctions against Russia’s lucrative energy industry since the February 24 invasion.
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In addition to sanctions on various entities and individuals, including Russian President Vladimir Putin and members of his family, the EU previously approved an embargo on coal imports.
The EU has started discussions on a possible natural gas embargo, but it is more difficult to secure consensus among member countries on the fuel used to generate electricity and heat homes. The region gets about 40% of its natural gas from Russia.
The EU and Russia are playing “a game of chicken. It’s hard to say who will blink first. The Russians for fear of running out of money, or Europe for fear of the lights going out,” said James Nixey, director of the Russia and Eurasia program at the think tank. Chatham House From london.
Von der Leyen also stressed that the bloc should target high-ranking military officers and others “who committed war crimes in Bucha,” a kyiv suburb. Ukrainian officials have alleged that retreating Russian troops carried out mass killings of civilians in Bucha. But Moscow has denied the fact.
“This sends another important signal to all the perpetrators of the Kremlin war: we know who they are. We will hold you accountable. They will not get away with it,” von der Leyen told lawmakers.
EU diplomats confirmed that the European Commission’s plans also include an asset freeze and a travel ban on the head of the Russian Orthodox Church, Patriarch Kirill of Moscow. The diplomats have direct knowledge of the discussions but are not authorized to speak publicly while negotiations continue.
Kirill is considered a longtime ally of Putin and has justified Russia’s invasion of Ukraine. In March, he described the conflict as part of a fight against sin and pressure from foreign liberals to hold “gay parades” as the price of admission to their ranks.
Von der Leyen said that Putin’s intention is to “wipe Ukraine off the map”, but he predicted that he would fail in his undertaking. “Ukraine has risen up in courage and in unity,” he said. “And it is in his own country, Russia, that Putin is sinking.”
Banks are also targeted by the EU’s executive arm, and in particular Russia’s largest, Sberbank. Von der Leyen said the goal is for us to “remove Sberbank from SWIFT.” SWIFT is the world’s leading financial transfer system.
“We will also remove SWIFT from two other big banks in Russia. With that, we hit banks that are consistently critical of the Russian financial system and Putin’s ability to carry out destruction,” he said.
According to Von der Leyen, the sanctions will also reach the media. “We are sweeping three big Russian state broadcasters from our airwaves. They will no longer be allowed to distribute their content in the EU, in any way, be it via cable, via satellite, the internet or smartphone apps,” he said.
Von der Leyen did not name the broadcasters, but called the TV channels “mouthpieces that aggressively amplify Putin’s lies and propaganda.” “We should no longer give them a stage to spread these lies,” he said.
