crimes suspects.
European Commission President Arsala van der Leyen has said the plan is aimed at increasing pressure on Russia and reducing damage to Europe.
Last year, Russia supplied one-third of the oil to the European Union, with Germany being the largest buyer.
Earlier, sanctions also targeted Russian banks, but the largest bank, Sabir Bank, was not included in the list because it is considered important for buying Russian gas.
European Commission President Arsala van der Leyen has said the plan is aimed at increasing pressure on Russia and reducing damage to Europe.
He says Russian crude oil imports will be phased out in six months.
New sanctions will also be imposed on military officers involved in alleged conflict crimes in the Ukrainian regions of Bocha and Mariupol.
"This will send another important message to all the perpetrators of the Kremlin conflict: we know who you are and you will be held accountable," he told the European Parliament on Wednesday.
The European Union has been considering for several weeks how to get rid of Russian oil and gas.
It has promised to reduce gas imports by two-thirds by the end of 2022 and now plans to phase out crude oil imports over the next six months, while refined products by the end of 2022. Import should be stopped.
The president of the European Commission has said that "we will make sure that Russian oil is phased out."
The plan will first require the approval of European ambassadors and will be signed in the next few days.
In the current scenario, Slovakia and Hungary, which depend on Russian oil, will be given an extra year to find alternative sources.
Hungarian Foreign Minister Peter Siarto has said he will not support the Budapest project in its current form, while Slovakia's economy minister has said his country will need three years.
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| Slovakia imports almost all of its crude oil from Russia |
Last year, Russia supplied one-third of the oil to the European Union, with Germany being the largest buyer.
However, Germany has largely reduced its Russian oil imports, from 35% to 12%. Britain, which is no longer a member of the European Union, is gradually reducing its oil imports.
It accounts for 8% of its imports. The Czech minister for industrial affairs said the European Commission's plan did not specify how oil would be distributed to EU countries in the event of a shortage.
Kremlin spokesman Dmitry Peskov said Moscow was considering several options in response to the sanctions imposed under the plan.
For Europeans and other countries, these sanctions are a double-edged sword because they will increase prices for European citizens.
Russian banks and TV channels are also targeted
Immediately after Russia's intervention in Ukraine, the European Union suspended the broadcasts of two Russian media outlets, RT and Sputnik.
The services of these institutions were broadcasting in English, German and Spanish languages.
The European Union has now targeted cable, satellite, smartphone or online services of Russia's three largest state broadcasters.
"We have pointed out that these TV channels are aggressively promoting Putin's lies and propaganda," said the president of the European Commission.
Government operators of Russia and RTR Planeta may join VGTR. He says Russian companies will also be banned from providing services as accountants, lawyers or other facilities.
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| After the Russian intervention in Ukraine on February 24, there was widespread destruction and Western countries imposed severe trade sanctions on Russia |
Earlier, sanctions also targeted Russian banks, but the largest bank, Sabir Bank, was not included in the list because it is considered important for buying Russian gas.
Sabir Bank accounts for one-third of Russia's banking sector and is preparing to move out of the global financial system. Two more Russian banks have also been included in the plan.
Past sanctions have also targeted individuals believed to be close to the Kremlin and have been supporting the intervention in Ukraine.
According to unconfirmed reports, members of the family of Patriarch Kirill, head of the Russian Orthodox Church, and Dmitry Peskov, spokesman for the Kremlin, will also be added to the latest list.
"We want Ukraine to win"
The President of the European Commission also provided details on how to co-operate on Ukraine's costs and economic impact in this conflict.
He said that Europe has a big responsibility on the situation in Ukraine and in this situation economic assistance and reconstruction projects are needed.
He said weaknesses in the Ukrainian economy would be addressed and corruption would be eradicated.
"We want Ukraine to win this conflict, but we also want to create conditions conducive to Ukraine's success."
The European Union, meanwhile, has said it will increase military aid to Ukraine's neighbor Moldova, which is under threat from Russian troops.
"We will improve our partnership with you and bring your country closer to the European Union," said Charles Mitchell, President of the European Council.
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