Times is gated. In brief:
- European Union is preparing “smart sanctions” against Russian oil imports
- designed to minimise economic damage to the continent’s economy
- would soon present a sixth package of sanctions
- would include “some form” of an oil embargo
- sanctions could include a gradual phasing-out of Russian oil or imposing tariffs on exports beyond a certain price cap
The comments come from Valdis Dombrovskis, the European Commission’s executive vice-president
