Zelenskyy: as soon as 6th package starts working, we will start preparing 7th

Kateryna Tyshchenko – Tuesday, 31 May 2022, 22:39

The preparations for the seventh EU sanctions package against Russia will start as soon as the sixth package enters into force.

Source: Presidential video address

Quote: "We will also work on new restrictions against Russia for this war. As soon as the sixth package starts working, we will start preparing the seventh.

After all, there must be no significant economic relations of the free world with a terrorist state."

Details: Volodymyr Zelenskyy noted that due to a significantl limit on oil imports from Russia, which is envisaged by the agreed sixth package of EU sanctions, Russia will lose tens of billions of euros, which now it will not be able "to use to finance terror."

"But it is also important to understand that European countries' abandonment of Russian oil and other fossil fuels will accelerate the transition to renewable energy sources. Strategically, this leaves Russia on the sidelines of the modern economy. With such an aggressive policy and a course of isolation from the civilised world, Russia simply will not be able to adapt. Therefore it will lose out economically," he stated.

Background: On Tuesday night (31 May), EU leaders approved a political decision at a summit to impose an oil embargo on Russia. This decision should be legally adopted on Wednesday or Thursday.

Under the agreement, the EU will ban the import of Russian oil delivered by sea – namely 75% of Russian exports. An exception is made for pipeline oil. However, Germany and Poland have pledged to suspend such supplies by the end of the year. This means that the oil embargo will cover 90 percent of Russia's exports to Europe.

French President Emmanuel Macron also stated that the sixth package of EU sanctions provides for restrictions on dozens of Russian oligarchs.