The EU plans to phase out Russian oil


News Desk: The chief executive of the European Union (EU) has proposed a phased ban on oil imports from Russia in the wake of the war in Ukraine.

Russia’s four banks and European broadcasters in Europe were also banned on Wednesday in a bid to deepen efforts to isolate Moscow.

The news agency Reuters says that if EU governments agree to the plan, it will mark a turning point for the world’s largest trade bloc. It will be the toughest sanctions ever imposed on Russia since the invasion of Ukraine, but it will also have to find alternative sources of supplies to EU countries that depend on Russia’s energy.

“Today we are proposing a ban on all Russian oil from Europe,” said Ursula von der Leyen, president of the European Commission in the European Parliament in Strasbourg, France. It will impose a complete import ban on all of Russia. “

The chamber of the European Parliament applauded him.

According to Lion, the steps taken by the commission are to phase out Russia’s crude oil imports within six months and refined products by the end of 2022. He also promised to limit the impact on the European economy.

“We are talking about our dependence on Russian oil. This will not be easy as some member states are highly dependent on Russian oil, but we have to do it. “Putin must pay a high price, for his barbaric aggression,” he said.

In addition to oil, four Russian banks and other high-ranking military officials in the country will have their assets confiscated from the European Union and will be banned, Layen said.

“You are not exempt from this,” he told the Kremlin.

The approval of these proposals by the Commission will now require the consent of the 27 member states of the EU. Diplomats speculate that Hungary and Slovakia, which are heavily dependent on Russian energy, maybe given more time to halt oil imports.


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