An employee inspects a well head in the Yarakta Oil Field, owned by Irkutsk Oil Company , in Irkutsk Region, Russia March 10, 2019. Picture taken March 10, 2019. REUTERS/Vasily Fedosenko/File PhotoAn employee inspects a well head in the Yarakta Oil Field, owned by Irkutsk Oil Company , in Irkutsk Region, Russia March 10, 2019. Picture taken March 10, 2019. REUTERS/Vasily Fedosenko/File Photo
The plan, if agreed by EU governments, would mark a watershed for the world’s largest trading bloc, which is dependent on Russian energy and must find alternative supplies. The Commission’s measures include phasing out supplies of Russian crude oil within six months and refined products by the end of 2022, President Ursula von der Leyen said. She pledged to minimize the impact on European economies.As well as oil, the latest round of sanctions will hit Sberbank, Russia’s top lender, as well as three other banks, adding it to several banks that have already been excluded from the SWIFT messaging system.
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