EU proposes gradual ban on Russian oil

Source: CNBC

“The European Commission, the executive arm of the EU, on Wednesday put forward new sanctions against the Kremlin which will include a six-month phase out of Russian crude imports. … The ban had been a highly controversial topic within the EU, but the move gained more momentum after Germany backed the idea. Two EU nations — Slovakia and Hungary which are both highly dependent on Russian energy — have been demanding exemptions.” (05/04/22)