The European Union’s sixth round of sanctions on Russia will see oil imports to the EU from Russia being cut by about 90% by the end of the year, President of the European Commission Ursula von der Leyen said on May 31
She said that she welcomed the decision.
EU members have “agreed to end their dependence on Russian gas, oil and coal as soon as possible,” she added.
The EC president also noted that the plan to achieve this goal would include the following:
diversifying away from Russian fossil fuels;
massive investment in renewable energy sources;
financing of EUR 300 billion, most of which will go to the Economic Recovery Fund.
President of the European Council Charles Michel on May 20 said that the countries of the EU had agreed to a partial ban on oil imports from Russia.