In addition to proposing a ban on Russian oil, the European Union is taking several other measures against Moscow over its war in Ukraine, EU Commission President Ursula von der Leyen said Wednesday.
In a series of tweets, she said the bloc plans to:
- List individuals who committed war crimes in Bucha, Ukraine
- Remove Russia's largest bank Sberbank and two other companies from the SWIFT system, a messaging service that connects financial institutions around the world.
- Ban three Russian state-owned broadcasters from the European airwaves because they "amplify Putin's lies and propaganda aggressively."
Von der Leyen laid the blame at the feet of the Russian leader:
"Putin must pay a price, a high price for his brutal aggression," she said. "It is international law that counts and not the right of might."
As for the oil ban, von der Leyen acknowledged the challenges in switching from a reliance on Russian fossil fuels.
"Let's be clear: it will not be easy. But we simply have to work on it. We will make sure that we phase out Russian oil in an orderly fashion. To maximise pressure on Russia, while minimizing the impact on our economies."
"We want Ukraine to win this war. Yet so much has to be rebuilt. That is why I am proposing to start working on an ambitious recovery package for our Ukrainian friends. This package should bring massive investment to meet the needs and the necessary reforms."
Von der Leyen is speaking at the European Parliament.
In response, the Kremlin spokesperson said the sanctions are a double-edged weapon.
“In general, the sanctions aspirations of the Americans, Europeans, and other countries are a double-edged weapon. In trying to harm us, they too have to pay a heavy price. They're already doing it, paying a big price. And the cost of these sanctions for European citizens will increase every day," Dmitry Peskov said when asked about possible sanctions on Russian oil to be imposed by the European Union.