The European Union is presenting the sixth package of sanctions against Russia today. This was announced by the President of the European Commission, Ursula von der Leyen, at the plenary debate on Ukraine.
The package envisages the disconnection from SWIFT of the key Russian bank Sberbank and the gradual introduction of the oil embargo. Von der Leyen added that Ukraine would receive assistance from the EU.
"Finally, we now propose a ban on Russian oil. Let´s be clear: it will not be easy. But we simply have to work on it. We will make sure that we phase out Russian oil in an orderly fashion," she said on Twitter.
Von der Leyen said in the debate that today, it is a question of approving the 6th sanctions package and bringing the Russian military to justice for Mariupol.
"The criminals are sitting in the Kremlin. We know who they are. They will be held accountable. Russian banks have been excluded from the SWIFT system, and Sberbank and two other critics of the Russian system will be excluded," she said.
Russia will be isolated from the world financial system, von der Leyen assured.
The President of the European Commission added that restrictions would be imposed on cable satellite services - three Russian channels broadcasting in Europe.
"These cable TV channels cannot be used to spread Putin's propaganda and false news. Finally, we have agreed to abandon and end our dependence on gas and oil supplies from Russia," she said.
A step to ban Russian oil in Europe is necessary. Refined and crude oil are being completely banned. It will be replaced by alternative energy sources. The consequences of Russia's refusal to keep oil are to be kept to a minimum.
"We want to put pressure on Russia and find alternative sources of supply to continue to consume the energy we need," she added.
Von der Leyen stressed that Putin simply wanted to wipe out Ukraine but failed. Ukraine has united and pushed Putin back.
"We want to win this war, and not only win but also create the preconditions to rebuild Ukraine after the war," she said.
Ukraine is going to receive macro-financial assistance, injections into the budget. Exports are frozen for a year.
"We understand that this means a lack of money, so we see that GDP is falling very much this year - we are helping the state to cope with the main tasks," she said.
Ukraine insisted that the oil embargo be included in the sixth package of EU sanctions against Russia imposed in response to the Russian war.
According to the WSJ, Italy, Hungary, Austria and Greece have been cautious about the effects of the embargo. A ban on Russian oil imports requires the consent of all 27 EU member states. Germany has made it clear that it will not object to the embargo, and is going to abandon oil imports from Russia by the end of this year.
During the eight weeks of Russia's full-scale war against Ukraine, Germany's dependence on Russian oil fell from 35% to 12%.