The European Union will propose a ban on Russian oil by the end of the year


Bloomberg (gated) has the report, citing “people familiar with the matter”:

  • The European Union is expected to propose a ban on Russian oil by the end of the year, with restrictions on imports phased in until then
  • The EU is also considering treating oil shipped by tankers and pipelines differently, with the latter being easier to sanction

The EU is the largest consumer of crude oil and fuel from Russia.

Bloomberg also quotes unnamed sources as saying:

  • The EU will also press for more banks in Russia and Belarus to be cut off from the SWIFT international payment system, including Sberbank

More at this link above.


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