EU introduces new package of sanctions against Russia: Oil embargo, Sberbank excluded from SWIFT

(Patria) - President of the European Commission Ursula von der Leyen announced a new, sixth package of sanctions that will include a gradual embargo on Russian oil.

The new sixth package of European Union sanctions against Russia will include sanctions against high-ranking officers and soldiers who have committed war crimes in Bucha.

Russia's largest bank will be excluded from the Swift system, and in addition to Sberbank, two more major Russian banks will be excluded from Swift. A ban has also been imposed on three Russian state media outlets from broadcasting their programs in the EU.

Regarding the embargo on the import of Russian oil, according to the sixth package of sanctions, it will be introduced in phases. European Union member states will be given six months to rid themselves of dependence on Russian oil. As the BBC reports, Hungary and Slovakia will be exempted from the plan due to excessive dependence.

This package will also maintain significant investments in Ukraine's victory in the war and in the recovery of the Ukrainian economy.