London Daily

Focus on the big picture.
Wednesday, Oct 08, 2025

Ukraine War: EU To Propose Phasing Out Russian Oil In New Sanctions Wave

Ukraine War: EU To Propose Phasing Out Russian Oil In New Sanctions Wave

Russia-Ukraine war: EU foreign policy chief Josep Borrell said Russia was intensifying its attacks in Ukraine, making new sanctions "absolutely essential".

The EU will propose a phased out ban on Russian oil imports as part of a fresh round of sanctions against Russia for its invasion of Ukraine, sources said on Sunday.

The European Commission, which draws up sanctions for the bloc, is currently preparing a text that could be put to the 27 member states as early as Wednesday, diplomats said.

Several diplomats said the ban on oil was made possible after a U-turn by Germany, which had said the measure would do too much harm to its economy.

EU foreign policy chief Josep Borrell said Russia was intensifying its attacks in Ukraine, making new sanctions "absolutely essential".

"We must use our economic and financial abilities to make Russia pay the price for what it's doing," he said.

The commission will propose introducing the ban over six to eight months to give countries time to diversify their supply, the sources said.

The ban requires unanimous backing and could yet be derailed, with Hungary expected to mount strong opposition as it is dependent on Russian oil and close to the Kremlin.

Other countries are worried that a ban on oil would increase prices at the pump when consumer prices are already sharply on the rise because of the war.

"We must be very attentive to market reactions," one official told AFP on condition of anonymity.

"There are solutions and we will get there in the end, but we must act with great care."

 'Little impact'


Even though Russia exports two-thirds of its oil to the EU, the United States has expressed doubts about an outright ban.

Treasury Secretary Janet Yellen warned that it might have little impact on Russia because it would push up prices for its remaining exports.

EU energy ministers will discuss the ban at talks on Monday in Brussels, though they will not sign off on the decision.

This sixth package of anti-Russian measures will also target the country's largest bank, Sberbank, which will be excluded from the international Swift messaging system, the diplomats said.

The EU had already banned imports of Russian coal, but Poland and the Baltic states called for an oil embargo as well.

Gas imports from Russia will remain untouched, with hugely dependent Germany promising to wean itself off Russian gas by mid-2024.

The reliance of Europe's biggest economy on Russian energy has been exposed as an Achilles' heel as Western allies scramble to punish Russian President Vladimir Putin for his attack on Ukraine.

Newsletter

Related Articles

0:00
0:00
Close
France: Less Than a Month After His Appointment, the New French Prime Minister Resigns
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Sarah Mullally Becomes First Woman Appointed Archbishop of Canterbury
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
US Prosecutors Gained Legal Approval to Hack Telegram Servers
Macron Faces Intensifying Pressure to Resign or Trigger New Elections Amid France’s Political Turmoil
Standard Chartered Names Roberto Hoornweg as Sole Head of Corporate & Investment Banking
UK Asylum Housing Firm Faces Backlash Over £187 Million Profits and Poor Living Conditions
UK Police Crack Major Gang in Smuggling of up to 40,000 Stolen Phones to China
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Trump Proposes Farm Bailout from Tariff Revenues Amid Backlash from Other Industries
FIFA Accuses Malaysia of Forging Citizenship Documents, Suspends Seven Footballers
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
A Dollar Coin Featuring Trump’s Portrait Expected to Be Issued Next Year
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
×