Which provides for the sixth package of EU sanctions against Russia

Ursula von der Leyen

Author of the photo, European Commission

The European Union has announced a sixth package of sanctions against Russia. The restrictions will cover Russian oil, several large banks, Russian TV channels and the Russian military, which are suspected of crimes against civilians in Bucha, Kyiv region.

This was announced by European Commission President Ursula von der Leyen on Twitter. The package of sanctions will be agreed in the near future.

The sanctions will affect four sectors.

Personal sanctions against the military

In particular, high-ranking Russian servicemen suspected of war crimes in Bucha and Mariupol will be subject to personal sanctions.

“We know who you are. And you will be responsible for that,” wrote von der Leyen.

Details and specific names in the new sanctions list will be announced later. After the European Commission’s proposals are discussed and approved by the ambassadors of all 27 EU countries, the text will be published in the official European journal.

Banks

Russia’s largest bank, Sberbank, will be disconnected from the SWIFT bank transfer system.

Also, according to von der Leyen, the list includes two more Russian banks. Earlier, Western publications reported, citing sources, that it could be the Moscow Credit Bank and Rosselkhozbank.

Oil

The EU also intends to end its dependence on Russian oil.

“It will not be easy, but we must do it,” the EU said.

According to the head of the European Commission, the purchase of Russian crude oil will stop in six months, and refined products – by the end of 2022.

Although she did not mention any exceptions, the two countries that depend most on Russian oil, Slovakia and Hungary, are expected to have more time to look for alternative sources.

“In this way, we are maximizing the pressure on Russia, while minimizing the collateral damage for us and our partners around the world. We must ensure that our economy remains strong,” said the President of the European Commission.

The European oil embargo is one of the most radical steps left in the West. The oil and gas sector brings Russia up to half of its budget revenues and more than half of its exports, and it sells 70% of its gas and 60% of its oil and petroleum products to Europe. During the two and a half months of the war, the EU paid Russia more than 20 billion euros for oil and more than 30 billion euros for gas.

At the same time, there is no consensus among the 27 EU members to end the use of Russian natural gas, a fuel that has not yet come under EU sanctions.

In addition, the EU plans to disconnect three major state-owned Russian TV channels from cable, satellite and Internet broadcasting in the EU.

According to Ursula von der Leyen, they are “a mouthpiece that reinforces Putin’s lies.”

Separately, von der Leyen stressed: “We want Ukraine to win this war.” And now she is proposing to start work on an “ambitious recovery package.”

Von der Leyen noted that Ukraine’s economy will fall by 35-50% in 2022, and it will need 5 billion euros a month to stay afloat. “We also have to contribute our share,” she said.

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