In the new set of sanctions, EU leaders urge a ban on Russian oil

Photo Source: By European Parliament

In a sixth package of sanctions targeting Moscow for its war in Ukraine, the top official of the European Union called for the bloc's 27 member states to ban oil imports from Russia.

As part of her proposal, Ursula von der Leyen, President of the European Commission, suggested that Sberbank, Russia's largest bank, and two other major banks be disconnected from the SWIFT international banking payment system.

Von der Leyen has acknowledged that obtaining all 27 member countries to agree on oil sanctions is unlikely to be easy. Many countries are landlocked and highly dependent on Russian energy imports.

“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.

4 May 2022