EU proposes gradual ban on Russian oil in sixth round of sanctions against Moscow

Environment

European Commission President Ursula von der Leyen speaks during a news conference with High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell, after Russia launched a massive military operation against Ukraine, in Brussels, Belgium, February 27, 2022.
Stephanie Lecocq | Reuters

The European Commission, the executive arm of the EU, on Wednesday put forward new sanctions against the Kremlin which will include a six-month phase out of Russian crude imports.

Russia’s unprovoked invasion of Ukraine, and evidence of war crimes, has pushed the EU to take bolder steps on energy sanctions. But imposing measures that could reduce, or fully cut, Russian energy supplies to the EU have been a complicated task for the bloc.

This is because the region is reliant on Russia for several sources of energy, including oil. In 2020, Russian oil imports accounted for about 25% of the bloc’s crude purchases, according to the region’s statistics office.

This is a breaking news story, please check back later for more.

Articles You May Like

Deputy PM refuses to say whether Lee Anderson is ‘racist’ following attack on Sadiq Khan
VinFast to kick off five-year construction of its first EV production plant in India.
The key questions to be answered after government’s plan to overturn Post Office convictions
Nets flag energy, effort as issues to address
VinFast (VFS) Q4, full 2023 results: Rising revenues help offset missed delivery targets