EU Planning To Impose 6th Package Of Sanctions Against Russia To Hit Oil Supplies – EC

MOSCOW (UrduPoint News / Sputnik – twenty fifth April, 2022) The European Union is getting ready a sixth bundle of sanctions towards Russia which is able to embody an oil embargo as a response to Russia’s navy operation in Ukraine, European Commission Executive Vice-President and Commissioner for Trade Valdis Dombrovskis mentioned on Monday.

“We are working on a sixth sanctions package and one of the issues we are considering is some form of an oil embargo. When we are imposing sanctions, we need to do so in a way that maximises pressure on Russia while minimising collateral damage on ourselves,” Dombrovskis informed The Times.

The particulars of sanctions concerning Russian oil haven’t but been agreed, Dombrovskis famous, including that the EU could think about phasing out Russian oil or imposing export tariffs above a sure worth cap.

In 2021, Russia’s imports to the European Union amounted to about 45% of gasoline, 27% of crude oil, and 46% of coal, in keeping with the European Commission.

On February 24, Russia launched a navy operation in Ukraine after the breakaway republics of Donetsk and Luhansk appealed for assist in defending themselves towards Ukrainian forces. In response, the EU rolled out a complete sanctions marketing campaign towards Moscow, which incorporates airspace closures and restrictive measures concentrating on quite a few Russian officers and entities, media, and monetary establishments.

On April 8, the EU agreed on a fifth bundle of anti-Russian sanctions, which included a ban on coal imports from Russia.

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