City
Epaper

EU proposes Russian oil ban

By IANS | Published: May 04, 2022 6:42 PM

Brussels, May 4 The European Union (EU) has proposed its toughest measures yet against Russia, including a total ...

Open in App

Brussels, May 4 The European Union (EU) has proposed its toughest measures yet against Russia, including a total ban on oil imports and sanctions on war crimes suspects, BBC reported.

European Commission President Ursula von der Leyen said that the package was aimed at maximising pressure on Russia while minimising damage to Europe.

Russian crude oil would be phased out within six months, BBC reported citing Ursula von der Leyen

Military officers involved in suspected war crimes in Bucha and Mariupol would also face new sanctions.

"This sends another important signal to all perpetrators of the Kremlin's war: We know who you are, and you will be held accountable," von der Leyen told the European Parliament on Wednesday.

The EU has been focusing for weeks on how to wean itself off Russian oil and gas. It has already pledged to reduce gas imports by two-thirds by the end of 2022 and now plans to phase out crude oil over six months and refined products by the end of 2022.

"We will make sure that we phase out Russian oil in an orderly fashion," the Commission president said.

Slovakia and Hungary, which currently rely on Russian oil, would be given an extra year to find alternative suppliers. A Hungarian government spokesman said they had not yet seen plans or guarantees for a transition.

Last year, Russia supplied the EU with a quarter of its oil imports, and Germany was the biggest buyer. However, Germany has dramatically reduced its reliance on Russian oil imports, down from 35 per cent to 12 per cent. The UK, which is no longer in the EU, is already phasing out Russian oil, which accounts for 8 per cent of its imports.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: bbcRussiaEuropean UnionBrusselsAustralia broadcasting corporationBbc radioBroadcasting corporationOrganisation secretary and member of parliament r.State steelBrussels capital region
Open in App

Related Stories

InternationalFour Students From Maharashtra Drown in Russia River, Two Bodies Recovered So Far: MEA

International“Working to Send Bodies to Relatives As Soon As Possible,” Says Indian Embassy After 4 Students Drown in Russia (See Tweet)

InternationalRussia: Four Indian Medical Students Drown in River Near St Petersburg

International“Looking Forward to Elevate the India-EU Ties to Greater Heights”: Narendra Modi After EU President Congratulates Him on Election Win (See Tweets)

InternationalEU, 26 Countries Support Taiwan at World Health Assembly Despite China’s Attempt to Prevent Them From Being Invited in Past Years

International Realted Stories

InternationalPlane carrying Malawi Vice-President Saulos Chilima goes missing

InternationalTaiwan slams China, Pakistan over misinterpretation of UN resolution 2758

InternationalHazza bin Zayed issues resolution forming BoD of Al Ain Football Club Company

InternationalGuterres congratulates Modi on starting third term

InternationalIsraeli Police raid Transportation Ministry in corruption probe