CNN, CNNBUSINESS By Mark Thompson, CNN Business Germany is ready to support a European ban on imports of Russian oil, and won’t be “blackmailed” by Moscow into paying for natural gas in rubles. Speaking to CNN’s Julia Chatterley on Monday, finance minister Christian Lindner said Germany would agree …
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The European Union could agree to an embargo of Russian crude oil imports as soon as next week, with pressure mounting on the organization to hurt Russia’s war effort in Ukraine
European Union countries next week are likely to approve a phased embargo on Russian oil, dealing a significant economic blow to Moscow over its invasion of Ukraine, The New York Times is reporting.
Germany has relented on its two great stances of opposition, agreeing to send weapons to Ukraine and to embargo Russian energy after weeks of resisting both measures.
EU leaders are expected to present the proposed embargo later this week. Supporting the measure would be Germany's second turnaround in as many weeks with regards to Ukraine.
Despite relying on Russia for 25% of its oil imports, Germany announced Sunday it could implement an embargo on Russian oil by the end of summer, according to Bloomberg.
CNN, CNNBUSINESS By Mark Thompson, CNN Business Germany is ready to support a European ban on imports of Russian oil, and won’t be “blackmailed” by Moscow into paying for natural gas in rubles. Speaking to CNN’s Julia Chatterley on Monday, finance minister Christian Lindner said Germany would agree …
The oil embargo could be upheld for years, German Foreign Minister Annalena Baerbock has said. Her Green ally Robert Habeck said complete independence from Russian oil was possible by late summer.
The European Union proposed a complete ban on Russian oil imports by the end of the year, its strongest response yet to the invasion of Ukraine and a move expected to push up prices.
The European Commission on Wednesday officially proposed a full ban on Russian crude and oil product imports by the end of the year—a move that sent oil prices rallying by more than 4% in early trade
