EU plans total embargo on Russian oil imports

Russia has a stronger hold on Europe's gas markets, supplying 40 per cent of the EU's needs. PHOTO: AFP
New: Gift this subscriber-only story to your friends and family

LONDON - The European Union (EU) has unveiled plans for a total embargo on imports of Russian oil by the end of this year in response to Russia’s continued invasion of Ukraine.

Announcing a “complete import ban on all Russian oil, seaborne and pipeline, crude and refined”, Dr Ursula von der Leyen, the President of the European Commission, the EU’s executive, warned the European Parliament on Wednesday (May 4) that the measure “will not be easy” for either national economies or individual consumers, who may face higher energy prices.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.