EU ambassadors agreed on the 6th package of anti-Russian sanctions. What does it include?

EU ambassadors have agreed on the 6th package of anti-Russian sanctions, including significant restrictions on Russian oil imports, says the French Presidency of the EU Council.

The 6th package of sanctions will include:

• A ban on oil imports from Russia delivered by sea. This ban, combined with national decisions by Germany and Poland, will reduce Russian oil imports by 92% by the end of the year. The ambassadors also agreed to decide to ban the oil imports from Russia through the pipeline as soon as possible.
• Sanctions against security and military apparatus members, linked in particular to massacres in Bucha in Kyiv Oblast, entities in the industrial and technological sector linked to Russian aggression, oligarchs, and actors of Russian propaganda and their family members.
• The disconnection from the SWIFT of three Russian banks, including Sberbank, and one Belarusian bank.
• The extension of export bans to Russia, including chemicals and high-tech goods.
• A ban on providing services to the Russian oil sector.
• A ban on three Russian media outlets involved in the dissemination of propaganda.
• A ban on consultancy services for Russian operators.

Interfax-Ukraine, citing a source top official familiar with the matter, reports that EU ambassadors have decided to exclude the head of the Russian Orthodox Church, Patriarch Kirill, from the 6th package of sanctions. The day before, Bloomberg said that Hungary lobbied for this decision.

This package is planned to be published on June 3 in the Official Journal of the EU.

Oil supply

According to the Brussels-based Bruegel think tank, the EU buys 3 to 3.5 million barrels of oil a day from Russia, sending $400 million to the country daily. This is about 27% of EU oil imports. According to the International Energy Agency, in 2021, revenues from oil and gas accounted for 45% of Russia's federal budget.

The 5th package of sanctions

The EU Council approved the 5th package of sanctions on April 8. The new restrictions included a ban on coal imports from August 2022. Coal imports to the EU now amount to about €8 billion a year.

The package also included a ban on granting access to EU ports to vessels registered under the Russian flag, but with certain exceptions. In addition, EU Council expanded the personal sanctions list.