The EU is ready to impose new sanctions on Russia

The British newspaper The Times reported that the European Union is working on a sixth sanctions package against Russia, including some form of oil embargo
.

Dombrovskis, executive vice president of the European Commission, pointed out that the EU hopes to put maximum pressure on Russia when imposing sanctions, but at the same time minimize the damage to Europe
.

The report said that the sanctions that the EU is planning for Russian oil imports are called "wise sanctions"
.
However, Dombrovskis said that the details of the EU have not yet been agreed, but measures may include phasing out Russian oil or imposing tariffs
on Russian exports above a certain price ceiling.

Russia is the largest oil supplier in Europe, accounting for 26%
of the EU's total imports in 2020.
Europe gets about a third of the available energy from oil and petroleum products and uses it in various sectors
such as transportation and chemical production.

After the outbreak of war between Russia and Ukraine, Ukraine and a number of EU countries, including Poland and Lithuania, advocated an embargo on Russian oil and gas, but Germany and Hungary opposed the immediate operation
.

Oil and petroleum products accounted for more than
a third of Moscow's export earnings last year.
According to think tank Brugel, Europe currently spends about $450 million (S$618 million) a day on Russian crude oil and refined products, about $400 million on natural gas and about $25 million
on coal.

In addition, the German newspaper Die Welt reported on Monday that EU Foreign Affairs Commissioner Borrell pointed out in an interview with the newspaper that the EU has not been able to gain enough support
from member states on the issue of a total embargo on Russian oil and gas.

Borrell said the EU would discuss the subject at a summit at the end of next month, and until then, he did not expect the EU to make any decisions
.
"For now, the EU has not been able to agree
on this," he said.
”

Le Monde reported that the European Commission may present a sixth sanctions against Russia to member states this week, but did not cite sources
.

Boller said all EU member states are working to reduce their dependence on Russian oil and gas, and said he believes the EU will eventually be able to reduce its dependence on
Russian oil and gas.
"At some point it will happen, and then Russia will have the pain of feeling that the revenue from the oil and gas business is being lost
," he said.
”

European Commission President von der Leyen said last month that the commission plans to come up with a concrete plan in mid-May to ensure that the EU is free from dependence on
Russian oil, gas and coal by 2027.