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EU agrees on a sixth package of sanctions against Russia

31-5-2022 |

During the midnight debates at the summit in Brussels, the leaders of EU countries and governments agreed on a compromise plan to embargo two thirds of Russian oil.

The ban will only affect shipments by sea. Imports by pipeline will continue.

Also, the sixth package of sanctions against Russia includes disconnecting Sberbank from the SWIFT system and banning three more Russian state-run media from broadcasting in the EU.

EU Council President Charles Michel announced the deal on social media, saying it would cut a huge source of funding for the Russian war machine:

"To be clear, this means that the measure adopted will immediately affect 75% of Russian oil imports at the European level, and almost 90% by the end of the year."

Ursula von der Leyen, head of the European Commission:

"Other elements in the package are also important - the disconnection of Sberbank from the SWIFT system, a ban on insurance and reinsurance of Russian ships by European companies, a ban on providing a range of business services to Russian companies and, very importantly, the suspension of broadcasting in the European Union of three more Russian state channels."

Earlier Ukrainian President Volodymyr Zelensky called on European leaders to stop the "internal disputes" preventing the introduction of the ban on oil supplies and the sixth package of sanctions.

Hungarian Prime Minister Viktor Orban, in particular, opposed a full embargo because his country, which has no access to the sea, receives more than 60% of its oil from Russia through the Druzhba pipeline.

In addition, on the first day of the summit, the EU and its partners in the G7 decided to provide Ukraine with €9 billion of financial assistance in grants and loans.

Sourse: Euronews