x

EU Proposes Gradual Ban on Oil Imports from Russia

European Commission (EU) countries will stop importing Russian oil in the next six months as part of sanctions against Moscow for waging war on Ukraine.

Ursula von der Leyen, president of the European Commission, said this on Wednesday at a parliament’s plenary session in France.

Leyen said a ban would also be placed on all other refined oil products by the end of the year.

Presenting the 6th package of sanctions, the EU president said the measures are expected to be adopted by the end of the week.

“Let us be clear, it will not be easy. Some member states are strongly dependent on Russian oil. But we simply have to work on it,” Leyen told European deputies.

She said the proposal includes banning Russian broadcasters from European airwaves and stopping E.U. companies from providing Russian clients with services like public relations consulting and accounting.

“We are depriving the Russian economy of its ability to diversify and modernise, Putin wanted to wipe Ukraine from the map. He will clearly not succeed,” she added.

Last month, JPMorgan, American investment bank, warned that oil prices could reach $185 per barrel if the EU placed an immediate ban on imports of Russian oil.

Since Russia invaded Ukraine, the EU has been deliberating on breaking away from years of dependence on Russian oil by banning imports of the commodity.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Prof Rufa’i Ahmed Alkali Calls on Tinubu Visit Kolmani Oil Field

By Mike Odiakose A Chieftain of the ruling All Progressives...

JUST IN: Liverpool’s Diogo Jota Reportedly Killed in Car Crash in Spain

Liverpool forward Diogo Jota has reportedly died in a...

INEC Issues Supplementary Guidelines for Election Result Review

The Independent National Electoral Commission (INEC) has released new...

BREAKING: Super Eagles Icon Peter Rufai Dies at 61

The Super Eagles have mourned the passing of former...
spot_img

Related Articles

Popular Categories

spot_imgspot_img