EU agrees to ban most oil imports from Russia

French President Emmanuel Macron attends a summit of European Union leaders on Russia’s oil sanctions in Brussels, Belgium May 30 – Photo: REUTERS

According to CNN, the ban will immediately affect more than two-thirds of oil imports from Russia, which includes all seaborne oil from Russia. This will cut off a large Russian financial source from oil and is the maximum pressure on Russia to end hostilities in the region. Ukraine.

However, the EU agreed to give Hungary, a country heavily dependent on Russian crude oil, an exception with oil ban of blocks.

In addition to the oil ban, the new package of sanctions against Russia will include other key measures, including canceling the use of SWIFT by Russia’s largest bank, Sberbank, and banning three Russian state broadcasters. , punishing individuals responsible for the war in Ukraine.

SWIFT is the primary secure transfer order method that banks use to request payments from various institutions. SWIFT makes international trade, cross-border payments and international money transfers easier.

In addition, according to Mr. Charles Michel, the European Council is also ready to provide Ukraine with 9 billion euros (about 9.6 billion USD).

Ursula von der Leyen, President of the European Commission, tweeted that she welcomed the decision on oil sanctions against Russia.

“I am pleased that the leaders were able to agree in principle on a sixth package of sanctions. The Council can now finalize a ban on almost 90% of all Russian oil imports by the end of the year. . This is an important step forward. With the remaining 10%, oil supplied through the pipeline, we will come back to this soon,” she added.

Speaking at a conference before the agreement on an oil import ban was announced, Ukrainian President Volodymyr Zelensky said that the EU had been indecisive.

“Why do you depend on Russia, on their pressure and not vice versa? Russia has to depend on you. Why can Russia still earn almost a billion euros a day selling energy?” Why do Russian banks still work with Europe and the global financial system?” Zelensky asked.