PM says how much money Russia will lose due to partial oil embargo

Due to the incomplete embargo on oil, the Kremlin regime may not receive tens of billions of dollars, the head of the Cabinet noted.

Denis Shmyhal said how much money the Kremlin will lose due to a partial embargo on oil from Russia / photo REUTERS
Denis Shmyhal said how much money the Kremlin will lose due to a partial embargo on oil from Russia / photo REUTERS

A partial embargo on Russian oil, which is in the sixth package of European Union sanctions, will deprive Russia of revenues in the amount of 10 to 25 billion dollars.

Prime Minister of Ukraine Denys Shmyhal announced this during a government meeting.

“We are grateful to our European partners for being able to reach a consensus and agree on the sixth package of sanctions against Russia, which includes a partial embargo on oil. The Kremlin regime could lose from 10 to 25 billion dollars from this decision, and this will further deprive it of the ability to finance a war against Ukraine and all of Europe,” Shmyhal said.

The agreement to ban the export of Russian oil to the EU covers more than 2/3 of oil imports from Russia, reducing a significant source of funding for its military machine.

In addition, the new package of European sanctions provides for the disconnection of the Russian “Sberbank” from the international interbank system SWIFT, the blocking of the broadcast of three more Russian state broadcasters in the EU, as well as the imposition of sanctions on those responsible for war crimes in Ukraine.

(C)UNIAN 2022

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