Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

EU leaders agree "in principle" on Russia oil embargo - von der Leyen

Published 05/30/2022, 07:19 PM
Updated 05/30/2022, 11:01 PM
© Reuters. European Commission President Ursula von der Leyen arrives for the European Union leaders summit, as EU's leaders attempt to agree on Russian oil sanctions in response to Russia's invasion of Ukraine, in Brussels, Belgium May 30, 2022. REUTERS/Johanna Ger

BRUSSELS (Reuters) - EU leaders have reached an agreement "in principle" on banning oil imports from Russia, European Commission chief Ursula von der Leyen said early on Tuesday.

© Reuters. European Commission President Ursula von der Leyen arrives for the European Union leaders summit, as EU's leaders attempt to agree on Russian oil sanctions in response to Russia's invasion of Ukraine, in Brussels, Belgium May 30, 2022. REUTERS/Johanna Geron

"I am very glad that the leaders were able to agree in principle on the sixth sanctions package," she told reporters after the first day of an EU summit in Brussels.

"Council should now be able to finalise a ban on almost 90% of all Russian oil imports by the end of the year. This is an important step forward. On the remaining 10%, on these we will soon return to the issue of these remaining 10% of pipeline oil," she added.

Latest comments

Finally some backbone by EU. Russia can find new sponsors for their murderous apparatus. Other less and sometimes poorer countries can sell gas and oil to the EU. And the EU can finally hyper speed up their sustainable energy development and by doing so, reduce independence on mafia like states. As it should have been done in the past.
And yes, a painful transition. But you simply can not by oil from the mafia and then condemn their practices.
Lets hope that the Russians answer with a gas blockade and redirects it to china and India. German industry is doomed if this happens.
Why would you hope for something that dooms German industry and helps China?
Another Putin's 🐔 ucker. I won't be surprised if this guy is from Germany or Hungary somewhere.
It will ends up the entire European countries to solely rely on US without considering their own people stakes.
loool
Oh yeah and relying on Russia, constantly blackmailing Europe with gas, has been so much better...
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.