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EU intends to phase out Russian oil imports beginning NEXT WEEK

Russian oil imports

EU intends to phase out Russian oil imports beginning NEXT WEEK

For weeks, the EU has been discussing a ban on Russian oil as countries seek to penalize Russia for Vladimir Putin’s invasion of Ukraine.

The issue has caused controversy among EU member states and brought to light the EU’s reliance on Russian energy sources.

 The EU members took weeks to get an agreement on the measure’s terms, in part because some countries, such as Germany and Hungary, rely heavily on Russian imports.

 According to The New York Times, the European Commission intends to put a finished proposal on paper for EU ambassadors to approve over the weekend.

The ambassadors are set to meet on Wednesday and are anticipated to grant their final consent by the end of next week, according to several EU officials and diplomats involved in the process who spoke on the condition of anonymity.

 

If approved, the oil embargo will be the EU’s sixth package of measures imposed since Russia invaded Ukraine on February 24th.

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