Sixth package of EU sanctions: 75% of Russia’s oil imports are banned
The European Union has finally agreed on a sixth package of sanctions against Russia. Among the most “delicious” are a partial embargo on Russian oil imports and the disconnection of Sberbank from SWIFT.
The agreement was announced on Twitter by European Council President 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.”
But later Charles Michel called other numbers: “The sanctions will immediately impact 75% of Russian oil imports. And by the end of the year, 90% of Russian oil imported into Europe will be banned.”
So far, oil supplied by sea is subject to sanctions. The EU has decided not to touch imports on the Druzhba pipeline, on which Hungary depends. We remind that this country is against the introduction of a full embargo on Russia. Moreover, immediately after the announcement of the new package of sanctions, the Prime Minister of Hungary and Putin’s great friend Viktor Orban was happy to write: “Hungary has been released from the oil embargo. The solution has been found.”
According to experts, the new package of sanctions will reduce Russia’s revenue from oil exports from $20 billion to $6 billion. But it should be noted that against the background of the EU decision, the cost of crude oil has increased slightly.
Among other things, EU leaders agreed to disconnect Russia’s largest bank, Sberbank, from the SWIFT interbank payment system and ban three other Russian state-run media outlets in the EU.