On 3 June, the EU issued a news release saying that the package also imposes further sanctions against Belarus considering its involvement in this aggression. The package contains a complete import ban on all Russian seaborne crude oil and petroleum products. This covers 90% of our current oil imports from Russia. The ban is subject to certain transition periods to allow the sector and global markets to adapt, and a temporary exemption for pipeline crude oil to ensure that Russian oil is phased out in an orderly fashion. This will allow the EU and its partners to secure alternative supplies and minimises the impact on global oil prices. As regards export restrictions, today’s package includes restrictions on chemicals that could be used in manufacturing chemical weapons. The news release is accompanied by a Q&A on the new sanctions and the sanctions regime in general.
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