Russian oil ban
EU leader calls for Russian oil ban in new set of sanctions
The European Union's leader on Wednesday called on the 27-nation bloc to ban oil imports from Russia in a sixth package of sanctions targeting Moscow for its war in Ukraine.
European Commission President Ursula von der Leyen also proposed that Sberbank, Russia’s largest bank, and two other major banks be disconnected from the SWIFT international banking payment system.
Also read: EU energy ministers meet to discuss Russian gas, sanctions
Von der Leyen, addressing the European Parliament in Strasbourg, France, called on the EU's member nations to phase out imports of crude oil within six months and refined products by the end of the year.
“We will make sure that we phase out Russian oil in an orderly fashion, in a way that allows us and our partners to secure alternative supply routes and minimizes the impact on global markets,” von der Leyen said.
Also read: Japan, Switzerland agree to keep tough sanctions on Russia
The proposals need to be unanimously approved to take effect and are likely to be the subject of fierce debate. Von der Leyen conceded that getting all 27 member countries — some of them landlocked and highly dependent on Russia for energy supplies — to agree on oil sanctions “will not be easy.”
2 years ago
Zelenskyy: Russian oil ban key step to peace
Ukrainian President Volodymyr Zelenskyy said Friday that existing sanctions on Russia are “painful” but not yet enough to stop the Russian military.
Zelenskyy called for “the democratic world” to ban Russian oil. While U.S. lawmakers and U.S. President Joe Biden have enacted such a ban, Europe relies more heavily on Russian energy supplies, and the U.S. has been working to keep India from stepping up its use of Russian energy.
“In general, the democratic world must accept that Russia’s money for energy resources is in fact money for the destruction of democracy,” Zelenskyy said in his nightly video address to his nation.
Read: More than 10,000 civilians dead in Ukraine port city: Mayor
He also said: “The sooner the democratic world recognizes that the oil embargo against Russia and the complete blockade of its banking sector are necessary steps towards peace, the sooner the war will end.”
Also read: Biden urges Modi not to step up Indian use of Russian oil
2 years ago