04.07.2022
Chicago 11, Melborne City, USA
Finance

EU imposes partial embargo on Russian oil

Following the results of the first day of the summit in Brussels, the leaders of the EU countries agreed on a partial ban on oil imports from Russia, the head of the European Council said Charles Michel.

“An agreement has been reached on an embargo on Russian oil imports to the EU. This immediately affects two-thirds of oil imports from Russia,” he wrote on Twitter.

Michel also confirmed that the sixth sanctions package, of which the partial oil embargo will be part, includes other measures, in particular, cutting off Sberbank from SWIFT, a ban on three Russian TV channels broadcasting in the EU, as well as individual sanctions.

The West stepped up sanctions pressure on Moscow after the start of a special operation to denazify and demilitarize Ukraine. The EU countries are seriously considering the possibility of abandoning Russian oil and gas. At the same time, the sixth package of sanctions was blocked for a long time by some states, in particular Hungary.

The president Vladimir Putin stated that the policy of containment and weakening of Russia is a long-term strategy of unfriendly countries, and the sanctions dealt a serious blow to the entire world economy. According to him, the main goal of the United States and Europe is to worsen the lives of millions of people. He added that current events draw a line under the global dominance of the West in both politics and economics.

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