European Commission moves ahead with full embargo on Russian oil

Comissão Europeia avança com embargo total ao petróleo russo

After weeks of discussion between European central bodies and member states, the European Commission this morning presented a new package of sanctions against Russia that includes a total ban on imports of oil, whether seaborne and pipeline, crude and refined.

The announcement was made this Wednesday by Ursula von der Leyen, who specified that the embargo will be implemented in a "progressive and orderly manner" so that countries and their European partners can "secure alternative supply routes" and "minimize the impact on global markets."

"We will phase out Russian crude oil supplies within six months, and refined products by the end of the year. Thus, we maximize the pressure on Russia, while minimizing collateral damage for us and our partners around the world," said the Commission president quoted by the Zap Aeiou portal.

The official herself admitted that the measure will have a huge impact, but its implementation is fraught with challenges, especially for countries with higher dependency levels. "Let's be clear: it will not be easy. Some countries are heavily dependent on Russian supplies," he acknowledged. This will be the case for Slovakia and Hungary. These countries can therefore be expected to benefit from a regime of exception, which Von der Leyen called "tolerance.

"With these steps, we are depriving the Russian economy of its ability to diversify and modernize," she said. In addition to this measure, Ursula von der Leyen also announced the exclusion of Russia's largest commercial bank, Sberbank, from the SWIFT international payment system, as well as two other banking institutions in the country. According to her, these banks are "systematically critical to the Russian financial system.

Another of the measures has to do with banning the broadcasting of three Russian state radio and television stations that the Commission categorizes as agents for spreading Kremlin propaganda and disinformation. "They will no longer be allowed to distribute their content in the European Union in any form or format, whether by cable, satellite, Internet or via smartphone apps."

The European Commission has also made it known that it will add the names of "high-ranking military officers and other individuals who committed war crimes in Bucha and are responsible for the inhumane siege of the city of Mariupol" to the list of individuals and entities subject to an asset and entry freeze in the European Union.

Ursula von der Leyen added that the European Commission is committed to the recovery and reconstruction of Ukraine once the conflict is over. "The scale of destruction is staggering. Hospitals and schools, houses, roads, bridges, railways, theaters and factories - everything has to be rebuilt."

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