The main goals of the sixth round of EU sanctions against Russia

Reuters quoted European Commission President Ursula von der Leyen as saying that the latest EU sanctions plan covers energy issues and Sberbank – Russia’s largest bank.

“We are taking a deeper look at the banking sector, especially Sberbank. Of course there are also energy issues”, said Mrs. Ursula von der Leyen.

According to the President of the European Commission, the EU is working on “smart mechanisms” to include Russian oil in further sanctions. The sanctions, she added, put a top priority on cutting Russian revenue.

So far, Sberbank has remained outside EU sanctions because it, along with Gazprombank, is one of the main intermediaries for payments for Russian oil and gas.

Previously, Sberbank was added to the US and UK sanctions lists. Accordingly, this bank is restricted from handling transactions in USD for Americans. The sanctions also include 42 subsidiaries of Sberbank.

On April 15, Vice Chairman of the Council of the Russian Federation Konstantin Kosachev said that Russia is seeking to maintain relations with the European Union – one of its largest economic and trade partners. Specifically, he said that relations between Russia and the EU will remain “as long as this matter depends on Russia”.

“We care about preserving these relationships. For us, the EU is one of the largest economic and commercial relationships. nothing is insurmountable in our relations with the European Union”, said Mr. Kosachev.

However, the vice-president of the Council of the Russian Federation also said that the EU’s actions against Russia “have come very close to the red line”.