Ukraine war: EU plans Russian oil ban by the end of the year in new package of sanctions | Business News


The European Union has announced plans to ban Russian oil by the end of the year as part of a sixth package of sanctions in response to the war in Ukraine.

European Commission President Ursula von der Leyen told the bloc’s parliament in Strasbourg that member states should cease to buy oil supplies within six months and associated products from Russia by the end of 2022.

The sanctions are yet to be formally approved by member states and will likely be voted down by those who are reliant on supplies from Russia, such as Hungary and Slovakia, without exemptions.


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