Business news from Ukraine

MICHEL CONVINCED ALL EU COUNTRIES TO SUPPORT SIXTH PACKAGE OF SANCTIONS AGAINST RUSSIA WITH OIL EMBARGO

The proposal of the European Commission regarding the sixth package of sanctions with an oil embargo on Russia because of the war it unleashed against Ukraine will be supported by all member states of the European Union, European Council President Charles Michel has said with confidence.

“I can assure you that I’m working very hard with my team and with my colleagues in order to make sure that we will be able in very short term to take united position on the proposal putted on the table by the Commission,” he said in an exclusive interview with the Interfax-Ukraine.

Michel recalled that “systematically in the past there were some concerns that we would not be able to be united.” “We were systematically able to adopt united position. And, of course, it required some negotiations, talks, decision. We need the support of the 27 governments. A few weeks ago I said publicly in the European Parliament that sooner or later oil and gas would be part of the sanctions. This is an important step… This is Commission which makes a proposal but these are the governments, this is Council which takes a decision,” the President of the European Council said.

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MICHEL SUPPORTS IDEA OF TRANSFERRING 10% SDR TO UKRAINE

President of the European Council Charles Michel speaks out in support of the idea of transferring 10% of Special Drawing Rights (SDR) to Ukraine.
“I think in deed this option is an interesting option, and we must look at that in order to see if it’s possible and for which member states it will be possible to take such a decision,” Michel said in an exclusive interview with Interfax- Ukraine.
According to him, he discussed this topic directly with the president (Volodymyr Zelensky) and mentioned support for this idea. “We are in closed contact with the IMF and also with different countries across the world and also across the EU.”
Speaking about a possible legal solution to this issue, the President of the European Council recalled that it is within the competence of the member states. “It is a decision of the member states on the national level, but in my capacity as Chair of the European Council, and Ukrainian friends know that they can count on me in order to support this. Is it immediately 10% or we will start with 5% and will try to raise more – the exact modality, we should see what is possible, what is realistic, of course. But you understand I’m supporter of this idea,” Michel said.

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