RRI Live!

Listen to Radio Romania International Live

Partial embargo on Russian oil 

EU leaders have agreed to gradually ban Russian oil imports

Partial embargo on Russian oil 
Partial embargo on Russian oil 

, 31.05.2022, 14:00

Since the start of the Russian military invasion in Ukraine on
February 24, Western countries have responded by a number of economic and
diplomatic sanctions against Russia. The sanctions are designed to effectively
counter Russia’s continued aggression on the neighbouring country.


Convening
in a summit in Brussels on Monday and Tuesday, the EU leaders agreed, after
several hours of talks, to gradually ban Russian oil imports. The compromise
negotiated with difficulty in Brussels bans only seaborne oil purchases for the
time being, exempting pipeline deliveries following the opposition of Hungary.


The measure
is part of the 6th package of sanctions enacted by the EU since the
start of the Russian-Ukrainian crisis.


The president
of the European Council, Charles Michel, said the measure, which will be
enforced by the end of the year, immediately covers more than two-thirds of the
Russian oil imports, cutting a huge source of financing for [Russia’s] war
machine and delivering maximum pressure on Russia to end the war.


Imports via the Druzhba pipeline,
which also supplies Hungary, will be exempt from the ban in a first stage, after
Budapest used its veto rights to hinder the adoption of the 6th
package of EU sanctions for several weeks. Hungary’s domestic consumption is
65% reliant on the Druzhba pipeline.


Negotiations
are scheduled as soon as possible to move towards banning the remaining of the
Russian oil imports.


Attending
the summit in Brussels, the president of Romania Klaus Iohannis said Bucharest
supported the new sanctions against Moscow.


Meanwhile,
the EU leaders also agreed to remove 3 Russian banks, including Sberbank, from the Swift
global payments system and to ban 3 other state-owned Russian broadcasters. So
far, 7 Russian banks have been denied access to the Swift platform which enables
major banking operations such as interbank transfers.


Also, a
macro-financial aid package worth EUR 9 billion has been approved. The funds
will allow Kyiv to cover its immediate cash demand and to keep its economy
running. According to the Ukrainian authorities, the country needs EUR 5
billion per month. The EU funding will take the form of long-term loans with subsidised
interests. (AMP)

Photo: pixabay.com
Today in the News Thursday, 24 April 2025

A new law on the magistrates’ pensions

There are several occupational categories in Romania whose employees are usually retiring under the age of 50 and whose pensions aren’t exclusively...

A new law on the magistrates’ pensions
Foto: Mediamodifier / pixabay.com
Today in the News Thursday, 24 April 2025

Downward forecast revision from the World Bank

According to its latest report, the World Bank expects growth in developing economies in Europe and Central Asia to slow down to 2.5% in 2025-2026...

Downward forecast revision from the World Bank
Photo: Septimiu / pixabay.com
Today in the News Wednesday, 23 April 2025

From budget deficit to governmental debt

  The Romanian finance ministry reiterates Romania’s commitment to meet the 7% of GDP deficit target at the end of the year, and promises...

From budget deficit to governmental debt
Ambasadorul Germaniei la București, Peer Gebauer, alături de ministrul de Externe, Emil Hurezeanu / Foto: MAE.ro
Today in the News Wednesday, 23 April 2025

Romanian – German Friendship Day

A year ago, former Romanian President Klaus Iohannis, himself an ethnic German from Transylvania, promulgated the Law establishing April 21 as...

Romanian – German Friendship Day
Today in the News Tuesday, 22 April 2025

Romania reacts to the Pope’s Death

Pope Francis passed away on Monday, the second day of Easter, after 12 years of pontificate, and the emotion caused by his disappearance crossed the...

Romania reacts to the Pope’s Death
Today in the News Thursday, 17 April 2025

Christians before Easter

The Orthodox Christians in Romania are preparing to celebrate Easter – the feast of light and joy, considered the greatest celebration of...

Christians before Easter
Today in the News Wednesday, 16 April 2025

Strategic partnership reaffirmed

  With a new administration led by the Republican Donald Trump that excels in unexpected moves, the United States has in Congress an institution...

Strategic partnership reaffirmed
Today in the News Wednesday, 16 April 2025

NATO continues to support Ukraine

NATO’s Secretary General visited Ukraine and the Republic of Moldova.   NATO Secretary General Mark Rutte on Tuesday made a surprise visit...

NATO continues to support Ukraine

Partners

Muzeul Național al Țăranului Român Muzeul Național al Țăranului Român
Liga Studentilor Romani din Strainatate - LSRS Liga Studentilor Romani din Strainatate - LSRS
Modernism | The Leading Romanian Art Magazine Online Modernism | The Leading Romanian Art Magazine Online
Institului European din România Institului European din România
Institutul Francez din România – Bucureşti Institutul Francez din România – Bucureşti
Muzeul Național de Artă al României Muzeul Național de Artă al României
Le petit Journal Le petit Journal
Radio Prague International Radio Prague International
Muzeul Național de Istorie a României Muzeul Național de Istorie a României
ARCUB ARCUB
Radio Canada International Radio Canada International
Muzeul Național al Satului „Dimitrie Gusti” Muzeul Național al Satului „Dimitrie Gusti”
SWI swissinfo.ch SWI swissinfo.ch
UBB Radio ONLINE UBB Radio ONLINE
Strona główna - English Section - polskieradio.pl Strona główna - English Section - polskieradio.pl
creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti
italradio italradio
Institutul Confucius Institutul Confucius
BUCPRESS - știri din Cernăuți BUCPRESS - știri din Cernăuți

Affiliates

Euranet Plus Euranet Plus
AIB | the trade association for international broadcasters AIB | the trade association for international broadcasters
Digital Radio Mondiale Digital Radio Mondiale
News and current affairs from Germany and around the world News and current affairs from Germany and around the world
Comunità radiotelevisiva italofona Comunità radiotelevisiva italofona

Providers

RADIOCOM RADIOCOM
Zeno Media - The Everything Audio Company Zeno Media - The Everything Audio Company