EU proposes to ban imports of Russian oil, driving up prices

BRUSSELS – The European Union has proposed a ban on imports of Russian crude within six months and the country’s refined petroleum products by the end of the year, sending oil prices soaring, while the bloc is on about to impose sanctions on senior Russian military officials implicated in alleged war crimes and the siege of Mariupol.

President of the European Commission Ursula von der Leyen outlined the proposal in a speech to the European Parliament and said the EU’s executive body is also proposing to take on Russia’s largest bank, Sberbank, and two other Russian banks off the Swift financial messaging system. The commission also plans to ban three major Russian public broadcasters from the EU.


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