Two EU diplomats have asserted that the European Union is leaning towards a ban on imports of Russian oil by the end of the year after talks between the European Commission and EU member States which held this weekend.
Africa Today News, New York gathered that the European Union is preparing a sixth package of sanctions against Russia over the invasion just over two months ago of Ukraine.
Recall that Moscow has continued to call the invasion a special military operation.
The ‘package’ is expected to come heavy is expected to target Russian oil, Russian and Belarusian banks, as well as more individuals and companies.
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The Commission, which is presently coordinating the EU response, held talks dubbed ‘confessionals’ with small groups of EU countries over the last few days and is expected to firm up its sanctions plan in time for a meeting of EU ambassadors in Brussels on Wednesday this week.
Africa Today News, new York reports that EU energy ministers have also concluded plans to meet in the Belgian capital on Monday to discuss the issue as to discuss next steps while also factoring in the challenges that could come with every action.
The EU diplomats said some EU countries were able to end their use of oil before the end of 2022, but others, particularly more southerly members, were concerned about the impact on prices.
Germany, one of the bigger buyers of Russia oil, appeared to be willing to go along with the end-2022 cut-off, the diplomats said, but countries including Austria, Hungary, Italy, and Slovakia still had reservations.
Some EU countries have proposed opting for a cap on the price they are willing to pay for Russian oil. However, it would still leave them forced to pay higher prices for supplies from elsewhere.
Africa Today News, New York