Bert Sundström on EU oil shutdown: "Means nothing for Russia in the short term"

After several weeks of difficult negotiations, EU leaders were able to agree at the summit on Tuesday night to introduce the sixth sanctions package against Russia at the EU summit on Tuesday night.

The package includes a halt to oil imports from Russia - albeit with exceptions.

The oil embargo will in the short term not have particularly major consequences for Russia, says SVT's Russia correspondent Bert Sundström.

- Russia will be able to continue exporting oil, though not to the same countries as before, but to about the same extent.

However, in the long run, the embargo could hit the Russian economy hard - hear more in the clip above.