The russian federation is suffering tremendous losses, which will affect its ability to continue the war in Ukraine. Furthermore, the ban on oil import insurance will also affect oil supplies not only in the EU. This will deplete russia's financial resources.
LB.ua. reporter informs that the Head of the EU Delegation to Ukraine, Matti Maasikas, announced this at the briefing.
"The sixth package of sanctions is currently being finalized. A political decision has already been made, so I do not expect any surprises. This package means a ban on russia's oil exports to the EU. It affects 90% of these exports. And even according to careful estimations, it means dozens, dozens and dozens of billions of euros a year," - he said.
He emphasized the importance of banning russian oil insurance.
"This is a crucial step because the EU and the United Kingdom (Great Britain) are at the forefront of insurance worldwide. This is affecting russia's global oil supplies, not just in the EU," - said Maasikas.
He said that the disconnection of the Central Bank of russia from SWIFT is also a significant step toward stopping the aggression and depleting russia's financial resources.
"The damage will be more than significant. Almost 40% of russia's state revenue comes from oil and gas sales. Russia's oil exports to the EU were worth about 100bn euros last year. So the consequences will be very significant. And it will affect russia's ability to finance this war." - predicts he.
The EU has agreed on the sixth package of anti-russian sanctions, including a partial oil embargo.
As of 7 March 2022, russia bet Iran, Syria, and North Korea in the number of sanctions implemented on it: this number exceeds 5,530.