News Id: 844818

EU planning to impose 6th package of sanctions on Russia

The European Union is preparing the sixth package of sanctions against Russia which will include an oil embargo.

MEHR:The European Union is preparing the sixth package of sanctions against Russia which will include an oil embargo.

"We are working on a sixth sanctions package and one of the issues we are considering is some form of an oil embargo. When we are imposing sanctions, we need to do so in a way that maximises pressure on Russia while minimising collateral damage on ourselves," European Commission Executive Vice-President and Commissioner for Trade Valdis Dombrovskis told The Times.

The details of sanctions regarding Russian oil have not yet been agreed upon, Dombrovskis noted, adding that the EU may consider phasing out Russian oil or imposing export tariffs above a certain price cap.

In 2021, Russia's imports to the European Union amounted to about 45% of gas, 27% of crude oil, and 46% of coal, according to the European Commission.

On April 8, the EU agreed on the fifth package of anti-Russian sanctions, which included a ban on coal imports from Russia.