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European Union to propose phasing out Russian oil by the end of the year

The EU will also push for more banks from Russia and Belarus to be cut off from the international payment system SWIFT, including Sberbank, said the people

Topics
European Union | Russia Oil production | Russia Ukraine Conflict

Bloomberg 

European Union
European Union

The is set to propose a ban on Russian oil by the end of the year, with restrictions on imports introduced gradually until then, according to people familiar with the matter.

The EU will also push for more banks from Russia and Belarus to be cut off from the payment system SWIFT, including Sberbank, said the people, who asked not to be identified because the discussions are private. A decision could be made as soon as this week at a meeting of the bloc’s ambassadors.

Meanwhile, US President Joe Biden tweeted on Sunday that, “just as Putin chose to launch this brutal invasion, he could make the choice to end it.”

One person was injured in a fire on a Russian defence ministry facility in the southern Belgorod region bordering Ukraine, Belgorod region governor said on Sunday. In Mariupol, a Ukrainian fighter inside the steelworks said that 20 women and children had made it out of the plant.

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First Published: Sun, May 01 2022. 23:32 IST
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