BRUSSELS. (Reuters.) – Wednesday’s European Commission proposal for its sixth, and perhaps most serious round of sanctions against Russia was approved. Ambassadors from EU countries could sign off on the matter later in this week.

Here are the major components of this package.

OIL

Commission suggested a ban on any import of Russian oil. This includes all Russian seaborne, pipeline, crude, and refined. This ban will be gradually implemented with the purchase of oil coming into effect within six month and refined products at the end of this year.

Due to their dependence on Russian oil, and the limited possibility of purchasing crude crude anywhere else, Hungary and Slovakia can continue to purchase Russian crude oil under current contracts until 2023.

BANKS

Sberbank, Russia’s largest bank is being removed from international SWIFT transactions and messaging systems. The Commission also wants two major banks to be taken out. The Commission did not provide the names of the two banks, but EU officials told Reuters they were Credit Bank of Moscow and the Russian Agricultural Bank.

INDIVIDUALS

Commission wants to add high-ranking military officials and other people who have been accused of war crimes in Bucha in Ukraine, and are responsible for Mariupol’s “inhuman siege”. Further details have not been provided by the Commission.

BROADCASTERS

Three large Russian-controlled TV broadcasters are being banned by the Commission from EU airwaves.

1) Rossiya RTR/RTR Planeta,

2) Rossiya 24,

3) TV Centre International

The EU considers them to be spreading Kremlin disinformation and they will ban their distribution in the EU by satellite, cable, or internet.

PR SERVICES, ACCOUNTING

The Commission proposes to ban European firms providing consulting, accounting and public relations services for Russian companies.