In an effort to further expand sanctions against Russia for its invasion of Ukraine, European leaders decided during a summit on Monday, 30 May, to prohibit more than two-thirds of imports of Russian oil, as reported by President of the European Council Charles Michel.
«Agreement to ban export of Russian oil to the EU. This immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine. Maximum pressure on Russia to end the war,» Michel wrote on Twitter.
Sources among diplomats told DPA news agency that by the end of the year it is planned gradually prohibit imports of oil from Russia by sea. Germany and Poland promise to gradually close down imports of oil through their pipelines.
«This will effectively cut around 90% of oil imports from Russia to the EU by the end of the year,» wrote European Commission’s President Ursula von der Leyen.
I am glad that tonight leaders agreed in principle on the sixth sanctions package. This is an important step forward.
We also agreed to work on a mechanism to provide Ukraine with a new, exceptional macro-financial assistance package of up to €9 billion. https://t.co/La3bZl6JNp
— Ursula von der Leyen (@vonderleyen) May 30, 2022
The European Commission had suggested a complete prohibition of imports of Russian oil but Hungary refused. The country imports 60% of oil from Russia.
Read also: Day 95 of war in Ukraine: Counterattacks in south, Zelenskyy visits Kharkiv, Eurovision award sold for USD 900 000
The sixth package of anti-Russian sanctions also provides for disconnecting Russia’s biggest bank Sberbank from SWIFT, blocking three more Russian state broadcasters, as well as imposing sanctions against persons responsible for war crimes in Ukraine, Michel wrote on Twitter.
During the summit it was also decided to allocate EUR 9 billion from emergency reserves for Ukraine. It is planned this money will be used, among other things, to pay wages to state officials, as well as ensure continued and uninterrupted operations of schools and hospitals.