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A boy stands next to a wrecked vehicle in front of an apartment building damaged during Ukraine-Russia conflict in the southern port city of Mariupol, Ukraine April 24, 2022. (Reuters)

Brussels prepares to hit Russia with ‘smart sanctions’ on oil imports

The European Union is preparing “smart sanctions” against Russian oil imports, The Times reported on Monday, citing the European Commission’s executive vice president, Valdis Dombrovskis.

“We are working on a sixth sanctions package and one of the issues we are considering is some form of an oil embargo. When we are imposing sanctions, we need to do so in a way that maximises pressure on Russia while minimising collateral damage on ourselves,” Dombrovskis told The Times.

He said that precise details of the oil sanctions had not yet been agreed but could include a gradual phasing-out of Russian oil or imposing tariffs on exports beyond a certain price cap, the newspaper reported. — Reuters



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