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EU bans most Russian oil imports to 'stop Putin's war machine'

The EU has committed to banning 75% of Russian oil imports.

The embargo applies to Russian oil imported by sea but allows for temporary exemptions for imports by pipeline to appease Hungary or other countries concerned about the economic consequences of a complete ban.

Hungary imports more than 60% of its oil directly from Russia. It also relies on crude oil that is from the Soviet-era Druzhba (“Friendship”) pipe.

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Charles Michel, president of the European Council stated: “We want the European Council to revert as soon as possible to address this temporary exception, and to ensure that we can target all the Russian Oil.”

He stated that 75% of Russian oil imports into the EU would be banned immediately, and this number will rise to 90% by year’s end.

The sixth EU sanction package following the invasion of Ukraine will also exempt Russia’s largest bank, Sberbank, SWIFT from financial transfers. This global system was previously blocked by the bloc from several smaller Russian banks.

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Three other Russian state-owned broadcasters are also banned from publishing their content in Europe.

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Ukraine MP about EU’s Russia oil ban

Michel stated that “We want Russia to cease its war machine,” calling the measures “remarkable achievements”.

“It’s more important than ever to demonstrate that we can be strong, that our firmness is unwavering, and that we can be tough.”

Emmanuel Macron, French President, praised the move and said: “As Europeans united in solidarity with Ukraine’s people, we are taking new decisive Sanctions.”

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“Russia is concentrating their forces”

The Ukrainian president Volodymyr Zelenskyy was less enthusiastic and said it took too long to reach new European sanctions. He noted that the last package had been introduced almost two months ago.

He addressed the Ukrainian people and said that he was grateful for Mr Michel’s efforts to “find the necessary compromises” in making the measures possible. He also stated that Russia must pay a higher price for its aggression.

“The oil is the key. In any case, I believe Europe must give up Russian oil products and oil oil.

“Because it is about the independence Europeans themselves from Russian Energy Weapons.

“And the quicker this happens, and the more complete the abandonment Russian oil will be. The greater the benefit for Europe in the end.”

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Ukraine: Frontline with the 93rd Brigade

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Oil prices rise as EU meets to discuss Russian energy ban

Michel stated that Wednesday will see the legal approval of the new sanctions.

Mikhail Ulyanov (Russia’s permanent representative at international organisations in Vienna) responded to the EU decision via Twitter, saying that Russia would find other importers.

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The measures were announced on May 4th, but were resisted by countries such as Hungary, Slovakia, Czech Republic, and Bulgaria.

Initial goals were to eliminate crude oil imports within six months, and then phase out refined products by the end the following year.


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