EU leader calls for Russian oil ban in new round of sanctions | Economic news

BRUSSELS (AP) — The European Union leader on Wednesday called on the 27-nation bloc to ban oil imports from Russia in a sixth round of sanctions targeting Moscow over its war in Ukraine.

European Commission President Ursula von der Leyen has also proposed that Sberbank, Russia’s largest bank, and two other major banks be disconnected from the SWIFT international banking payment system.

Von der Leyen, addressing the European Parliament in Strasbourg, France, called on EU member countries to phase out imports of crude oil within six months and refined products by the end of the year. .

“We will ensure that Russian oil is phased out in an orderly manner, in a way that allows us and our partners to secure alternative supply routes and minimize the impact on global markets,” von der said. Leyen.

The proposals must be unanimously approved to enter into force and are likely to be the subject of fierce debate. Von der Leyen conceded that getting the 27 member countries – some of them landlocked and heavily dependent on Russia for energy supplies – to agree on oil sanctions “will not be easy”.

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