The European Commission plans to present a new package of anti-Russian sanctions by Wednesday, 4 May. This new package may include an oil embargo, as German news agency DPA was told by EU officials in Brussels.
The sixth package of sanctions may also include an oil embargo and wider sanctions against Russian private and legal persons.
It is expected that sanctions may extend to Russia’s biggest bank – Sbernank, as DPA was told by some EU official who asked to remain anonymous.
New sanctions may include restrictions for cooperations with Russian civil nuclear energy sector. For example, Slovakia procured nuclear fuel elements from Russia until the recent times.
Currently there is no clarity under which conditions countries like Hungary, which is very dependent on supplies of Russian oil, could agree to the oil embargo.
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EU member states also consider possible exceptions for the embargo or a long transition period – until the end of 2022 or start of 2023.
As previously reported, after Russia’s invasion of Ukraine, the EU has imposed a total of five packages of anti-Russian sanctions. The biggest amount of sanctions are aimed at the country’s financial sector. Assets owned by the Russian central bank in foreign countries are frozen and a number of Russian banks no longer have access to SWIFT.
The most-favoured-nation treatment is lifted for Russia and Belarus together with other countries. They are also not allowed to export or import certain goods.
EU’s air space is closed for Russian airlines, Russian transport companies are not allowed to carry goods to and from the EU and Russian ships are not allowed to enter European sea ports. Sanctions also apply to a number of Russian officials and businessmen that support Russian President Vladimir Putin’s regime. A number of sanctions also extend to Belarus.
As for the energy sector, the EU has imposed an embargo only on imports of Russian coal. Gas and oil are still supplied because the EU energy system remains highly dependent on them.