The European Union plans to give up 90% of Russia’s oil by the end of the year / Article

This European step, which will limit the Kremlin’s disposable income to finance the war in Ukraine, is clearly the most powerful action on Europe’s part.

The agreement provides for immediately suspend two-thirds, but by the end of the year 90 percent of Russian oil exports to EU countries. However, for the time being, this embargo will not apply to Hungary, the Czech Republic and Slovakia.

The agreement reached on Tuesday night calls for an embargo on Russian oil imported by ships, which accounts for two-thirds of Russian oil purchased in Europe. Oil delivered via pipelines remains outside the embargo for the time being, as requested by Hungary.

The Hungarian media has already congratulated Prime Minister Viktor Orban on his victory, without mentioning that this exception is a temporary option.

Meanwhile, Germany and Poland, which also receive pipeline oil from Russia, have committed themselves to getting rid of it completely by the end of the year. Therefore, in reality, sanctions will be more powerful – Europe will give up 90% of Russia’s oil by the end of the year.

“In the short term, it will penalize the Russian economy, but above all it will fundamentally change our European energy supplies,” said French President Emmanuel Macron.

The sixth round of sanctions also includes sanctions against those accused of committing war crimes in the Ukrainian city of Bucca, as well as against Russia’s Orthodox leader Patriarch Kirill, who praises Putin’s regime.

Three more Russian TV channels accused of disseminating disinformation – Rossiya RTR, Rossiya 24 and TV Center International – will be banned in the European Union. Three more banks will be disconnected from the international payment system SWIFT, including Russia’s largest bank, Sberbank, which accounts for 37% of the market

Gazprombank, through which European gas payments are made, is not on the list. The new sanctions also prohibit EU companies from insuring and reinsuring Russian ships, which will make shipping much more difficult.

Everything has yet to be translated into legal language and formally approved by the EU Council; it will happen in a few days.

The European Union has already imposed sanctions on Russian coal and oil, and there is still room for action against Russian gas supplies. The gas embargo is not a near-term reality. However, it may turn out that Russia itself is helping.

Russia’s Gazprom confirmed on Tuesdaythat it completely suspends the supply of gas to the Dutch company GasTerra because it does not pay in rubles. Poland, Bulgaria and Finland have already had their gas cut off. Next in line is Denmark, which has also refused to pay in rubles.

The Baltic states and Poland are calling for even tougher sanctions against Russia, including a gas embargo.

“If Europe and the free world lose this fight, lose this war, we will no longer be safe, because we will always be threatened and blackmailed by Putin,” said Polish Prime Minister Matthew Moravecki.

“Of course we would like him to be completely overthrown – he represents a brutal force. Russia is a great power, and if Ukraine ultimately survives as a sovereign state, which is our only goal and why we support Ukraine by various means, it will be our victory. ”

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