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EU chief proposes Russian oil ban over war in Ukraine

Commodities May 04, 2022 05:01AM ET
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3/3 © Reuters. FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels, Belgium, March 24, 2021. REUTERS/Yves Herman 2/3
 
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STRASBOURG (Reuters) - European Union countries will stop importing Russian oil and refined products, the head of the bloc's executive European Commission said on Wednesday in proposing a sixth round of sanctions against Moscow for waging a war on Ukraine.

"We will phase out Russian supply of crude oil within six months and refined products by the end of the year," Ursula von der Leyen told the European Parliament, prompting applause from lawmakers. "This will be a complete import ban on all Russian oil, seaborne and pipeline, crude and refined."

"It will not be easy. Some member states are strongly dependent on Russian oil. But we simply have to work on it," von der Leyen said of the proposal, which requires approval from all 27 EU countires to take effect.

EU chief proposes Russian oil ban over war in Ukraine
 

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Comments (4)
Ram Thakilpatty
Ram Thakilpatty May 04, 2022 7:06AM ET
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Finally EURO will suffer with all this sanctions.
Benjamin USA
Benjamin USA May 04, 2022 5:21AM ET
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Lets go
Parveen Tiwari
Parveen Tiwari May 04, 2022 3:46AM ET
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Each day may ,might , might not , probably , seemingly……are the words of EU contagion nothing straight and will be the biggest buyers from Russia but blame India buying
chandrashekhar dharmadhikari
chandrashekhar dharmadhikari May 04, 2022 3:16AM ET
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ultimately crude price will be high ..Russia will sell crude higher price evenafter discount....total oil supply is not going change but some countries like srilanka , Nepal Pakistan will struggle to survive.Eurooe US has deceived Ukrain.
 
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