EU's partial embargo on Russian oil to have 'negative impact' on global market: Peskov

Kremlin spokesperson Dmitry Peskov said that the European Union's partial embargo on Russian oil will have a "negative impact" on Europeans, Russia and the entire global market. Speaking to reporters, Peskov stressed that the European market is quite important for Russia in terms of supplies, including the volumes of sales, TASS reported. The statement of Kremlin spokesperson Peskov came as the European Union agreed to impose the sixth package of sanctions against Russia. 

Russian President Vladimir Putin Press Secretary, Dmitry Peskov, said that they will be "redirecting" spare volumes of oil to other destinations. He underscored that systematic actions will be taken to reduce the impact of the oil embargo on Russia. He underscored that Europe will face "serious blowback" due to its own decisions, as per the TASS report. European Union members agreed to impose the sixth package of sanctions against Russia over its military offensive in Ukraine, which included a partial embargo on Russian oil imports and removing Sberbank from the SWIFT. It is to mention here that ever since the Russian invasion of Ukraine, the EU has been imposing sanctions against Moscow. 

EU agrees for imposing sixth package of sanctions 

The European Council President Charles Michel announced that the EU members have approved a fresh package of sanctions against Russia. The EU Council President Michel tweeted, "Agreement to ban export of Russian oil to the EU. This immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine. Maximum pressure on Russia to end the war." In a subsequent tweet, Michel said that the sanctions package includes removing the Sberbank from the SWIFT, banning three more Russian state-owned broadcasters and sanctioning people responsible for war crimes in Ukraine.

Zelenskyy welcomes decision of European Union 

European Commission President, Ursula von der Leyen said that the EU leaders have agreed to the sixth package of sanctions and called it an "important step." She stressed that the EU nations agreed to work on a mechanism to provide Ukraine with a "new, exceptional macro-financial assistance package of up to €9 billion." In his late-night address on May 31, Ukrainian President Volodymyr Zelenskyy welcomed the agreement of the European Union to the sixth package of sanctions. He stressed that they are looking forward to the removal of Sberbank from SWIFT and halting the broadcast of "Russian dissemination" channels in Europe. In a subsequent tweet, Leyen announced that the EU leaders agreed to ban 90% of Russian oil imports by the end of 2022.

 Image: AP