Russian oil embargo comes late in the day, MEPs tell Von der Leyen
EU sanctions include phase-out of Russian crude and refined petroleum, as invasion of Ukraine prompts questions from MEPs about European social model in the face of challenges
European Commission President Ursula Von der Leyen announced a sixth package of sanctions against Russia, targeting high-ranking military officers suspected of war crimes in Bucha and Mariupol.
The sixth package also targets Russia's largest bank Sberbank, kicking them out of the SWIFT system. SWIFT is the vast messaging network banks and other financial institutions use to quickly, accurately, and securely send and receive information, such as money transfer instructions. This step renders a further 37% of the Russian banking sector cut off from the international system.
The sanctions also target three Russian broadcasters, totally banning them from distributing their content in the EU. The most impressive of the latest sanctions is the commitment to totally phase out Russian oil and gas, crude or refined.
In an address to MEPs, Von der Leyen announced Russian Crude oil will be phased out in six months, with the refined petroleum to be phased out by the end of the year. “This way, we maximize the pressure on Russia while minimizing the disruption to ourselves and our partners.”
But MEP Luis Garicano (Renew), complained that the intended Russian oil ban did not meet expectations. “We asked a month ago for a full embargo on Russian gas and oil, while the debate goes on you have given Russia €52 billion today since the start of the year... by the time the embargo would be in place, Putin will have received €100 billion more in revenue.”
French labour minister Brigitte Klinkert, addressing MEPs as Council representative, said 5 million Ukrainians had fled their country due to the war, and although coordinated European actions had helped offset the worst of the crisis, there were still “major challenges” ahead.
“The wave of refugees heading toward the surrounding states, many of which EU member states or partners would have budgetary consequences that would be difficult to estimate,” Klinkert said.
She said the compound effects of the global financial crisis and the war’s knock-on effect had led to a slowdown of post-Covid recovery. However these difficulties also represented opportunities for Europe “if refugees want to integrate in a long term manner in their host countries.”
Klinkert said that the digital and green transition would also play heavily in the move away from dependency on Russian oil and gas. To de-couple Europe's energy demands from Russian Gazprom, Klinkert said the EU would have to diversify its energy sources as well as double down on energy efficiency and renewables.
“In view of all the social and economic challenges the Union is facing, our priority has to be protecting and consolidating our political and social model.”
MEPs discussing the war's effects on the EU included Esther de Lange (EPP), who called for an analysis of the cumulative effect of the war, the rising prices, the shortages in raw materials, and new legislation on track to be ratified.
She pointed out the very real effects that the most vulnerable Europeans were experiencing “some families in Europe cannot turn on the heating now because they cannot afford it anymore.”
Iratxe García Pérez (S&D) called for more EU solidarity. “Add Romania and Bulgaria to Schengen, we can’t keep having a two-speed Europe,” she said, pointing out the hypocrisy of those praising the border countries for dealing with so many refugees while not existing on equal footing to other member states.
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