The European Union approved the sixth round of sanctions, including a partial embargo on Russian oil. People familiar with the matter said that the diplomats' meeting on Thursday supported the above plan. This will be the EU's strongest measure so far. These measures will ban the purchase of Russian crude oil shipped to Member States after six months, and ban product oil after eight months.
Access:
Pipeline crude oil is not included for the time being, which is a compromise to Hungary and other landlocked countries, which rely on Russia for supply through the Druzhba pipeline.
The sanctions package also includes the expulsion of Russia's largest bank, the Federal Savings Bank of Russia, as well as credit Moscow and Russian agricultural bank, from the international payment system swift.
