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Wednesday, February 8, 2023

Brussels considers Russian oil embargo in new sanctions round

PoliticsBrussels considers Russian oil embargo in new sanctions round

Brussels (Times Of Ocean)- The EU may tighten sanctions against Russia as it mulling imposing an embargo on oil and coal — but not on gas — as part of its next round of sanctions, but that might not adversely affect Moscow.

On Monday, EU foreign ministers are meeting in Brussels to discuss new sanctions against Russia for its invasion of Ukraine. Many are calling for a ban on Russian oil and coal imports.

“It is unavoidable to start talking about the energy sector and we definitely can start talking about oil,” Lithuania Foreign Minister Gabrielius Landsbergis told reporters heading into the meeting.

“Europe cannot look, give an impression of fatigue when the war in Ukraine hasn’t ended. We cannot get tired imposing sanctions, we cannot get tired offering assistance to Ukraine,” he added.

Simon Coveney said Dublin is “very open” to sanctions against Russian oil and coal.

“We think that is appropriate,” he said, given “the extent of the destruction in Ukraine.”

Since Russia launched its military attack against Ukraine on 24 February, the EU has imposed four rounds of sanctions against it. These attacks have targeted banks, hundreds of individuals, including Russian President Vladimir Putin, his foreign minister Sergei Lavrov, and oligarchs, as well as the steel sector.

Additionally, the bloc has banned the export of any military goods as well as luxury goods to Russia.

These sanctions are meant to cripple the Russian economy and restrict its ability to fund its military, according to the bloc and its allies.

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