Zelensky asked the EU that the next round of sanctions include a total embargo on Russian energy

The President of Ukraine, Volodymir Zelensky, asked the European Union on Wednesday to adopt an embargo on Russian oil and gas in the following sanctions, noting that if the bloc does not take this step, the response to Moscow “will not be tough enough”.

“We want the sixth package of sanctions to be powerful and we call for a total embargo on Russian energy, including oil and gas imports,” he said at a press conference with European Council President Charles Michel, who visited the country by surprise to meet with Zelensky in the midst of the escalation of the conflict. in the east of the country.

In the opinion of the president, the EU has room to “finalize” aspects of the sanctions and has warned that if they do not affect Russian oil and gas, the sanctions “will not be tough enough”. “We have to do everything we can to deprive Russia of the ability to finance the war,” he said.

It also called for European sanctions to tighten the siege against the Russian banking system and disconnect more entities from the SWIFT transfer system.

For his part, Michel has reiterated that his opinion is that an embargo on oil and gas will have to be faced at European level “sooner or later” and he has insisted on intensifying pressure against the Kremlin for military aggression.

“We have decided on many measures, but it is not enough and that is why we continue to work to increase the pressure,” said the former Belgian Prime Minister, who stressed that the Twenty-Seven must ensure that sanctions punish Russia and not the Member States themselves.

Europe can reduce Russia's energy dependence faster than previously estimated, Italian Prime Minister Mario Draghi said in an interview with Corriere della Sera.

“Diversification is possible and feasible relatively quickly, in less time than we imagined just a month ago,” said the Italian prime minister after reaching an agreement to increase gas imports from Algeria.

“We have gas in storage and we will have new gas from other suppliers,” Draghi said, adding that the effects of any “containment measures” would be mild. “We are talking about a 1-2 degree reduction in heating temperatures and similar variations for air conditioners.”

“Europe continues to finance Russia by buying oil and gas, among other things, at a price that is unrelated to historical values and production costs,” he said.

He also said that he is beginning to agree with those who say that talking to Putin is “useless” and “a waste of time.”

Russia is a hydrocarbon giant, and oil and gas revenues financed 45% of its federal budget last year, according to the International Energy Agency (IEA).

According to US statistics, Russia exported 5 million barrels per day (mbd) of oil in 2020, half to European countries (especially Germany, the Netherlands, Poland).

Russia, one of the world's largest oil exporters, supplies more than 25% of the EU's crude oil, according to European statistics.

(With information from Europa Press, AFP and Bloomberg)

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