The sixth package of EU sanctions provides for the phasing out of Russian oil, in particular from six months for crude oil to eight months for other refined petroleum products, the European Council reported.

"The EU decided to prohibit the purchase, import or transfer of crude oil and certain petroleum products from Russia into the EU. The phasing out of Russian oil will take from six months for crude oil to eight months for other refined petroleum products," a press release posted on the website of the European Council on Friday reads.

A temporary exception is foreseen for imports of crude oil by pipeline into those EU member states that, due to their geographic situation, suffer from a specific dependence on Russian supplies and have no viable alternative options.

"Moreover, Bulgaria and Croatia will also benefit from temporary derogations concerning the import of Russian seaborne crude oil and vacuum gas oil respectively," the European Council said.