The European Union’s top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia and target the country’s largest bank and major television companies in a sixth package of sanctions over the war in Ukraine.
European Commission President Ursula von der Leyen, speaking to the European Parliament in Strasbourg, France, proposed that EU member states phase out imports of crude oil within six months and refined products before the end of the year.
“We want to ensure that we phase out Russian oil in an orderly manner, in a way that allows us and our partners to secure alternative supply routes and minimize the impact on global markets,” von der Leyen said.
The proposals must be approved unanimously in order to enter into force and are likely to be the subject of heated debate. Von der Leyen admitted that it would not be easy to get all 27 member states – some of them inland and heavily dependent on Russia for energy supplies – to agree on oil sanctions. The EU gets about 25% of its oil from Russia, most of which goes to petrol and diesel for vehicles. Russia supplies about 14% of diesel, S&P Global analysts said, and a cut could send already high prices for trucks and tractors for fuel.
If approved, the ban on oil imports will be the second package of EU sanctions against Russia’s lucrative energy industry since the country invaded Ukraine on 24 February.
In addition to sanctions against various entities and individuals, including Russian President Vladimir Putin and members of his family, the EU previously approved an embargo on coal imports.
The EU has launched discussions on a possible natural gas embargo, but agreement among member states to target the fuel used to generate electricity and heat homes is harder to secure. The region gets about 40% of its natural gas from Russia.
Hungary and Slovakia have already said they would not participate in any oil sanctions. Von der Leyen did not elaborate on whether they would receive a waiver from the sanctions, even though it seemed likely.
The EU and Russia are playing “a game of chicken. It’s hard to say who will swing / blink first. The Russians for fear of running out of money. Or Europe for fear of the light going out,” said James Nixey, director for Russia and the Eurasia program in London’s Chatham House think tank, Von der Leyen also said the EU should target senior military officers and others “who committed war crimes in Bucha”, a suburb of the capital Kiev. carried out mass killings of civilians in Bucha. “This sends another important signal to all the perpetrators of the Kremlin’s war: We know who you are. We will hold you accountable. You will not get away with this, ”von der Leyen told lawmakers.
EU diplomats confirmed that the European Commission’s plans also include the freezing of assets and a ban on entry for the head of the Russian Orthodox Church, Patriarch Kirill of Moscow. The diplomats have direct knowledge of the discussions, but were not authorized to speak publicly while the negotiations continue.
Kirill is a longtime Putin ally and has justified Russia’s invasion of Ukraine. In March, he described the conflict as part of a fight against sin and pressure from liberal foreigners to hold “gay parades” as the price of access to their ranks.
Von der Leyen said Putin’s intention is to “wipe Ukraine off the map”, but predicted he would fail in his deadly business. “Ukraine has risen in bravery and in unity,” she said. “And it’s his own country, Russia, that Putin is sinking.” Banks are also in the sights of the EU’s executive arm, and in particular Russia’s largest, Sberbank. Von der Leyen said the goal is that “we de-SWIFT Sberbank.” SWIFT is the largest global system for financial transfers.
“We will also de-SWIFT two other major banks in Russia. In doing so, we are hitting banks that are systemically critical of the Russian financial system and Putin’s ability to pay for destruction,” she said.
Von der Leyen added that those alleged to be spreading misinformation about the war in Ukraine would be targeted. “We are banning three major Russian state-owned broadcasters from our broadcasters. They will no longer be allowed to distribute their content in the EU, regardless of form or form, be it on cable, via satellite, on the Internet or via smartphone apps, ” she said.
Von der Leyen did not name the TV companies, but branded the TV channels “as mouthpieces that aggressively amplify Putin’s lies and propaganda. We should not give them a stage anymore to spread these lies.”