EU Russia to ban oil imports by the end of the year

The EU-European Union has announced a policy to ban oil imports later this year as additional sanctions against Russia, which continues its military invasion of Ukraine.

EU executive body, President of the European Commission, Von der Leyen, addressed the European Parliament on the 4th, announcing additional sanctions against Russia.

In this, President Von der Leyen said, "Some member countries are heavily dependent on Russian oil and it is not easy, but it cannot be helped. The EU today has all the oil from Russia. I propose to ban imports. "

He also announced that he would ban imports of crude oil within six months and refined petroleum products by the end of this year.

Chairman Von der Leyen says that he will secure alternative sources for the ban on oil imports from Russia, minimize the impact on the world market, and make every effort not to hinder the economies of member countries.

The implementation of sanctions is subject to the consent of all member states, but due to temperature differences among member states, such as Hungary's opposition to the ban on oil and natural gas imports from Russia, careful adjustments will be made. It is expected to be needed.

Chairman Von der Leyen also announced a policy to keep Russia's largest financial institution, Sberbank, out of the international payment network SWIFT.