The Commission is preparing to submit it to its Member States for approval The European Union the 6th package of sanctions against Russiawhich will include a plan for gradual embargo on crude oil imports from Moscow until the end of 2022.
According to the EIA, this package has already received the approval of the College of Commissioners earlier today and the President of the Commission will present it to the European Parliament in Strasbourg on Wednesday morning, before receiving the final approval by the Member States.
The Permanent Representatives of EU countries (COREPER) are also expected to consider tomorrow the Commission proposal for the 6th sanctions package.
Greece is among the countries that express reservations
According to diplomatic imgs who spoke to AMPE, there are several member states that are expected to suggest modifications in the plan for the oil embargo, as each for their own reasons, have reservations about the extent, impact and time horizon of this plan.
Among them are shipping countries such as Hellasthe Cyprusthe Malta, but also the Belgium and the Netherlandswhich have reservations about an embargo on the transport of Russian oil to third countries, because of the impact that such a measure could have on their shipping sector and consequently on their economy.
Moreover, the Hungary and the Slovakiatwo mainland countries that are heavily dependent on Russian oil, are asking to be excluded from the cessation of Russian oil imports until the end of the year and they will most likely be given more time, up to 12 months. However, other countries are reportedly now seeking to take advantage of this exemption (e.g. Czech republic).
In addition to the embargo on Russian oil, the 6th package of sanctions, among other things, provides for the exclusion of other Russian banks from the SWIFT trading system.
According to information from AMPE, the blockade of the large Russian bank is proposed Sberbank but also one of a major Russian agricultural bank.
Will also be added new faces and entities in the “black list” of sanctions, mainly persons involved in the massacre in Bouka.
The aim is to reach an agreement on the 6th package of sanctions within the week.
Source: News Beast
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