The European Union intends to approve the sixth round of sanctions against Russia because of the war in Ukraine at the forthcoming Foreign Affairs Council, said yesterday the head of European diplomacy.
THE Joseph Borel stressed during a press conference in the city of Panama, where he is on an official visit, that the EU hopes that the new sanctions package will include the imposition of an embargo on Russian oil.
The European Commission is expected to present the sixth package of sanctions within the week, expected to include the embargo. The measure would deprive Moscow of large revenues, but so far it has divided EU member states.
However, High Representative Borel, who chairs the Foreign Affairs Councils, said he hoped the EU to take “Measures to greatly reduce” the import of Russian crude into Europe, but acknowledged that so far there is no unanimity.
«But I am convinced that, at least as far as oil imports are concerned, it will be possible to reach an agreement by the next council.“, He added.
The Foreign Affairs Council is scheduled to meet on 10 and 16 May
“Other Russian banks will be excluded from SWIFT”
The European Union’s 6th package of sanctions against Russia will also include a blockade “And other banks” from SWIFT trading systemBorrell assured.
The sanctions will include the “banking sector”, in particular “there will be other Russian banks that will be excluded from SWIFT”, while in the energy sector “we are working to prepare proposals that will reduce imports from Russia, in particular oil, “said Mr. Borrell.
Several European diplomatic sources reported over the weekend that the largest Russian bank, the Sberbank -represents 37% of the Russian market– will be excluded from SWIFT.
This particular interbank communication system is necessary tool of the global financial sector, allows transaction data to be transmitted quickly and securely.
The European Commission is expected to introduce the sixth package of sanctions, which is expected to include an embargo on Russian oil, representing 30% of the crude imported into the European Union. The measure would deprive Moscow of large revenues, but so far it has divided EU member states.
If the 27 reach an agreement and approve the measure, its implementation will be progressive – in six to eight months – but will have dimensions with immediate effect, such as the imposition of tariffs on oil transported by tankers, a European official said.
“I am convinced that, at least as far as oil imports are concerned, it will be possible to reach an agreement by the next (Foreign Affairs) Council,” Borrell said yesterday.
The Foreign Affairs Council is scheduled to meet on 10 and 16 May.
Mr. Borel is in Panama to attend a meeting with the foreign ministers of Central America and the Caribbean. It will mainly discuss the consequences of Russia’s war with Ukraine in this region.
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