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EU ratchets up the stakes as sanctions turn the target to ...

World

EU ratchets up the stakes as sanctions turn the target to Russian oil

The bloc’s 27 member states met on Wednesday to discuss — and potentially approve — the proposal

Alberto Nardelli, John Follain and Maria Tadeo

The EU plans to ban Russian crude oil over the next six months and refined fuels by the end of the year as part of a sixth round of sanctions to increase pressure on Vladimir Putin over his invasion of Ukraine.

“This will be a complete import ban on all Russian oil, seaborne and pipeline, crude and refined,” European Commission president Ursula von der Leyen said in remarks to the European parliament. “We will make sure that we phase out Russian oil in an orderly fashion, in a way that allows us and our partners to secure alternative supply routes and minimises the impact on global markets.”

Hungary and Slovakia, which are heavily reliant on Russian energy and had opposed a sudden cut-off of oil, will be granted a longer time frame — until the end of 2023 — to enforce the sanctions, according to people familiar with the matter. ..

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