EU to accelerate the withdrawal of Russian oil, asserts von der Leyen
The European Union (EU) has announced a new sanctions package aimed at tightening restrictions on Russia's banking sector, energy revenues, and the use of cryptocurrencies to bypass existing measures. This decision comes in response to Russia's war economy being sustained by revenues from fossil fuels, which is financing the bloodshed in Ukraine.
According to data from Eurostat, petroleum oil imports from Russia fell from 29% of the EU's total in the first quarter of 2021 to just 2% by the second quarter of 2025. This significant reduction was due to bans on Russian oil imports, with the EU having already banned imports of Russian coal and most crude oil.
The EU countries with the largest share of Russian crude oil imports historically included Germany and others in Central and Eastern Europe. However, by 2025, the EU had significantly reduced these imports, with Russian oil by sea shipments down to about 2%. Germany, in particular, was one of the most involved in these imports and thus most implicated in achieving the full import phase-out by January 1, 2028.
The EU's decision to end imports of Russian fossil fuels is part of the 19th sanctions package against Moscow. The 27 member states have pledged to completely end imports of Russian oil and natural gas by Jan. 1, 2028. The EU, alongside the Group of Seven (G7) nations, has also implemented a price cap on Russian oil.
Russia has responded to the EU's actions by redirecting energy exports to markets such as China and India. Some European countries continue to purchase Russian oil despite earlier commitments to reduce energy dependence.
The announcement was made by European Commission President Ursula von der Leyen, following a phone call with U.S. President Donald Trump. Trump has been pressuring European governments to act more firmly against Russia.
The new sanctions package also includes financial sanctions on Russian banks, companies, and individuals. Furthermore, the EU plans to accelerate its plan to end imports of Russian fossil fuels as part of the sanctions package. The EU's sanctions against Russia are expected to introduce tighter restrictions on Russia's banking sector, energy revenues, and the use of cryptocurrencies to circumvent existing measures.
Despite the significant reduction in Russian oil imports, these exports still contributed €2.8 billion ($3.31 billion) to Russia's economy in the year to July. The EU's decision to phase out fossil fuel imports from Russia is a significant step towards dismantling Russia's war economy and bringing an end to the bloodshed in Ukraine.
