European Union has unveiled latest package of sanctions against Russia over Ukraine, proposing a total ban on oil imports from Moscow and targeting its biggest bank and major broadcasters.
European Commission President Ursula von der Leyen announced plans to cut off European purchases of Russian crude oil within six months and end imports of refined energy products by the end of this year. She said the package was aimed at maximising pressure on Russia while minimising damage to Europe. We will make sure that we phase out Russian oil in an orderly fashion, the Commission president added. The package first has to be approved by EU ambassadors and is set to be signed off in the next few days.