In light of Russia’s continuing war of aggression against Ukraine and Belarus' support to it, as well as the reported atrocities committed by Russian armed forces in Ukraine, the Council decided today to impose a sixth package of economic and individual sanctions targeting both Russia and Belarus.
With today’s package, we are increasing limitations to the Kremlin’s ability to finance the war by imposing further economic sanctions. We are banning the import of Russian oil into the EU and with this cutting a massive source of revenue for Russia. We are cutting off more of the key Russian banks from the international payment system SWIFT. We are also sanctioning those responsible for the atrocities that took place in Bucha and Mariupol and banning more disinformation actors actively contributing to President Putin’s war propaganda.
the agreed package includes a series of measures intended to effectively thwart Russian abilities to continue the aggression.
Oil
The EU decided to prohibit the purchase, import or transfer of crude oil and certain petroleum products from Russia into the EU. The phasing out of Russian oil will take from 6 months for crude oil to 8 months for other refined petroleum products.
A temporary exception is foreseen for imports of crude oil by pipeline into those EU member states that, due to their geographic situation, suffer from a specific dependence on Russian supplies and have no viable alternative options.
Moreover, Bulgaria and Croatia will also benefit from temporary derogations concerning the import of Russian seaborne crude oil and vacuum gas oil respectively.
De-SWIFTing of additional Russian and Belarusian banks
The EU is extending the existing prohibition on the provision of specialised financial messaging services (SWIFT) to three additional Russian credit institutions - Russia's largest bank Sberbank, Credit Bank of Moscow, and Russian Agricultural Bank - and the Belarusian Bank For Development And Reconstruction.