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
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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.

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