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The European Commission (EC) proposed on Wednesday the sixth package of sanctions against Russia that includes for the first time a progressive ban on the purchase of Russian oil.
It is the 70th day of the war, and it has been learned that the conflict has cost the lives of at least 220 minors.
“We now propose a ban on Russian oil. This will be a complete import ban on all Russian oil, seaborne, and pipeline, crude and refined,” Commission President Ursula von der Leyen told the European Parliament.
Brussels proposes that such a veto be implemented in an orderly manner to ensure alternative supply routes and minimize the impact on global markets. The crude oil veto would be implemented in six months and an embargo on refined products would be added by the end of the year.
Pending the publication by the Commission of the details of the sanctions proposal, which must be unanimously approved by the 27 EU Member States, European sources indicated that Hungary and Slovakia, which are totally dependent on Russian oil and are landlocked, could have more time.
The new sanctions, in addition to vetoing Russian oil, also envisage corrective measures for persons and entities responsible for or involved in the massacres of Bucha or Mariupol, as well as the expulsion of Russia’s largest bank, Sberbank, from the SWIFT international transfer system.