EU plans to ban oil imports from Russia by the end of 2022

·

The European Commission on Wednesday proposed the toughest package of sanctions yet against Moscow for its war in Ukraine, Ekathimerini reports.

The new punishments were announced by Commission President Ursula von der Leyen, and included sanctions on Russia’s top bank and a ban on Russian broadcasters from European airwaves, as well as the embargo on crude oil in six months.

READ MORE: Greece to speed up gas exploration to cut reliance on Russia.

“Putin must pay a high price for his brutal aggression,” von der Leyen said. 

“Let’s be clear: it will not be easy, but we simply have to work on it. We will make sure that we phase out Russian oil in an orderly fashion to maximise pressure on Russia while minimising the impact on our economies.”

EU plans to ban oil imports from Russia by the end of 2022.

There wasn’t unanimous agreement amongst the EU bloc however, with a handful of eastern EU countries such as Hungary and Slovakia concerned that the halt would not allow them enough time to adapt.

Ultimately, is this plan is agreed, the embargo would echo the actions of the United States and Britain, which have already imposed bans to cut one of the largest income streams to the Russian economy.

Source: Ekathimerini.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

How younger Greek Australians are redefining mental health conversations

Conversations once hidden in the shadows are now in the spotlight, bringing mental health to the forefront.

NSW urged to act on worsening elder abuse crisis

A new report from Relationships Australia NSW (RANSW) reveals that 15% of elderly Australians are currently experiencing abuse.

More civil war-era mass graves found beneath Greek city park

Another grim discovery has surfaced in Greece, where 14 bodies believed to be victims of civil war-era executions have been unearthed.

Restored classic ‘Boy on a Dolphin’ returns to Greek cinemas after 70 years

Long before Greece became a go-to backdrop for global cinema, one film forever changed how the world saw it — Boy on a Dolphin.

Greece to introduce harsher penalties for dangerous driving under revised highway code

Parliament is expected to approve a revised Highway Code (ΚΟΚ) on Tuesday, introducing tougher penalties for traffic violations.

You May Also Like

Greek American student, Andreas Giannitsopoulos, missing in Miami building collapse

Andreas Giannitsopoulos is missing following the 12-storey Champlain Towers South building collapse in Surfside, Miami on Thursday.

Message from His Eminence Archbishop Makarios on the 79th anniversary of the Battle of Crete

His Eminence Archbishop Makarios has commemorated the 79th anniversary of the Battle of Crete, where Nazi troops began an airborne invasion of the island.

Lawyer Greg Masselos warns NSW workers’ comp changes could devastate frontline workers

Greg Masselos has warned that proposed changes by the NSW government to raise the threshold for claims could have devastating consequences.