the 27 of the European Union agree on an embargo

The announcement of the sixth package of sanctions of the 27 of the European Union against Russia was eagerly awaited. Europe will stop, by the end of 2022, the import of Russian oil up to 92%. This represents a shortfall for Russia of 240 million euros per day, or 80 billion euros per year. But to reach this compromise, it was decided that only imports by boat would be stopped.

Other measures were taken against three new Russian banks, excluded from the international Swift system. Sberbank, the country’s main bank, is concerned. The blacklist of oligarchs has been extended to nearly 80 Russian personalities. Three media are also banned from broadcasting in Europe. Next step in sanctions could be a gas embargo, but further talks strained are to be expected before an agreement.