Russia Sanctions: Von der Leyen Says EU Plans to Phase Out Oil Imports Amid Ukraine War
Published Date: 5/4/2022
Source: Bloomberg Markets and Finance
European Commission President Ursula von der Leyen says the EU plans to ban Russian crude oil over the next six months and refined fuels by the end of the year as part of a sixth round of sanctions to increase pressure on Vladimir Putin over his invasion of Ukraine. In remarks to the European Parliament, von der Leyen also said the EU is proposing to cut off Sberbank and other lenders from the international SWIFT payment system.