[Strasbourg, 4th Archyde.com]-European Union (EU) European Commission President Von der Leyen said in the European Parliament on the 4th that Russia’s crude oil will be gradually banned as the sixth sanction against Russia after the invasion of Ukraine. Proposed sanctions on major banks and broadcasters.
Imports of Russian crude oil will be phased out within six months, and imports of petroleum products will be phased out by the end of 2022. Hungary and Slovakia, which are heavily dependent on Russian crude oil, will be allowed to be imported until the end of 2011 under the existing contract.
“Some of the member states are heavily dependent on Russian oil and must do it, though it may not be easy. Putin (Russian President) is brutal invading. You have to pay a high price for it. “
Bulgaria, Hungary, Slovakia and the Czech Republic have expressed concern over the European Commission’s proposal for an oil embargo. Greece is also concerned about its impact on the shipping sector, according to diplomatic sources.
Meanwhile, Denmark and Finland have expressed their support. Danish Prime Minister Frederiksen pointed out that “measures that Russia actually feels the impact”. Finland’s Prime Minister Marin also acknowledged that the EU needs to impose additional sanctions on energy.
The additional sanctions include measures to exclude three banks, including Russia’s largest bank, Sberbank, from the SWIFT (International Interbank Communication Association), an international remittance and payment system. The names of the remaining two banks have not been disclosed, but EU officials say they are the Moscow Credit Bank and the Russian Agricultural Bank.
“This will strengthen the complete isolation of the Russian financial sector from the international system,” said Von der Leyen.
Three Russian state-run broadcasting companies, including the Russian RTR, will be suspended from operations in the EU. “Distribution of all forms of content such as cable TV, satellite, Internet, and smartphones will be prohibited.”
Sanctions on individuals include freezing of assets in the EU and bans on travel for upper Russian military personnel. The specific name has not been disclosed.
It also banned European companies from providing accounting, consulting and public relations services to Russian companies.
Sanctions need to be approved by Member States.
Von der Leyen also showed plans for Ukraine’s reconstruction after the end of the conflict, pointing out that reconstruction would require hundreds of billions of euros. “This will ultimately pave the way for Ukraine to join the EU,” he said.