loading

News

European Council Conclusions

European Council Conclusions
01 June 2022

During the special meeting of the European Council on 30 and 31 May, the Leaders of the EU were able to reach an agreement on the sixth package of sanctions against Russia, which includes the ban of almost 90% of all Russian crude oil and petroleum products imports by the end of the year, while keeping 10% of pipeline oil.

Therefore, the European Council urges a well-functioning EU Single Market, fair competition, solidarity among Member States and a level playing field also regarding the phasing out the EU dependency on Russian fossil fuels.

Another important element in this package is the de-SWIFTing of Sberbank, the largest Russian bank. There is also a ban on insurance and reinsurance of Russian ships by EU companies, a ban on providing Russian companies with a whole range of business services, and there is also a suspension of broadcasting in the European Union of three further Russian state outlets that were broadly spreading misinformation.

On the other hand, the EU leaders also agreed to support the reconstruction of Ukraine, providing €9 billion in macro-financial assistance and political, military and humanitarian support to Ukraine. The Leaders of the European Council also agreed on strengthening the EU’s defence and energy security.

Image © European Commission

News

Related news

The Commission has adopted today the 2022 Strategic Foresight Report – “Twinning the green and digital transitions in the new geopolitical context”. The report...
More details 2022 Strategic Foresight Report
On 21 and 22 of June, the leading global forum on development cooperation, the European Development Days (EDD) took place in Brussels. This edition was focused on Global...
More details European Development Days: Global Gateway 2022
The European Commission has today issued a further €5 billion in NextGenerationEU green bonds in the 10th syndicated transaction under the NextGenerationEU recovery...
More details European Commission raises €5 billion in green bonds under NextGenerationEU

Stay in touch with us!

For more information about our services and working opportunities at our company, do not hesitate to: