EU Sanctions Against Russia Provide For Phase-Out Of Oil. Which Countries Received Exemption

Today, the Council of the European Union approved the sixth package of sanctions against Russia for its military aggression against Ukraine. The new restrictions provide for a gradual phase-out of Russian oil.

This is stated in a press release on the website of the Council of the EU.

The leadership of the European Union reached an agreement and decided to ban the purchase, import or transfer of crude oil and certain petroleum products from Russia. Refusal will occur in several stages.

Thus, a complete rejection of Russian oil will take from 6 months for crude oil. EU countries have been given 8 months to refuse other oil products.

It is reported that the EU has provided a temporary exception for the import of crude oil through the pipeline to those countries that, due to their geographical location, have a high dependence on Russian oil.

In addition, Bulgaria and Croatia received temporary exemptions for the supply of crude oil and vacuum gas oil by sea.

The new package of sanctions against Russia will come into force after publication in the Official Journal of the EU. This is expected to happen tonight.

Recall that the new sanctions of the European Union provide for the disconnection of three Russian and one Belarusian banks from the international payment system SWIFT. In particular, it is about Russia's largest bank Sberbank.

We also wrote that the European Union could not agree on the imposition of sanctions against Patriarch Kirill because of the position of Hungary.