New sanctions on Russia
The European Council agreed that the sixth package of sanctions against Russia will include crude oil, as well as petroleum products, delivered from Russia to member countries. A temporary exception will be made for crude oil supplied by the pipeline. In the event of sudden supply disruptions, emergency measures will be introduced to ensure security of supply.
The leaders called on the Council of the European Union to finalize and adopt new sanctions without delay, ensuring:
• A well-functioning EU single market
• fair competition
• solidarity between Member States
• a level playing field for the phasing out of the EU’s dependence on Russian fossil fuels
European Council President Charles Michel said that the European Union had reached an agreement to ban the import of 2/3 of Russian oil, which would deny large inflows of money to this country, and he was of the opinion that it would put pressure on Russia to end the war in Ukraine.
Michel added that the package includes the removal from the SWIFT system of the largest Russian bank, Sberbank, as well as a ban on broadcasting programs in the EU for three other Russian state broadcasters. There are also continued sanctions against “individuals responsible for war crimes in Ukraine.”
The report from the session is available at the link: https://www.consilium.europa.eu/en/meetings/european-council/2022/05/30-31/