UKRAINE/SANCTIONS: EU Compromise - EU Bans Russian Oil by end 2022 - Analysis

UKRAINE/SANCTIONS: EU Compromise - EU Bans Russian Oil by end 2022 - Analysis
Posted By GEO´ Newsteam - Gibraltar

GEOPoliticalMatters.com

Google Indexed on 310522 at 15:15 CET

The EU has finally agreed to block Russian oil imports by 90% by the end of 2022 in a display of unity to punish Putin and his regime for the illegal invasion of Ukraine Poland and Germany have also pledged to end pipeline imports.

The ban will affect oil that arrives by sea, approximately 65% of imports, however the ban does not affect pipeline oil following vehement objections by member state Hungary

The move not only is not only line with the sixth round of Sanctions designed to both starve funding for the Russian war machine at the same time financially crippling the entire Russian economy. Learn More/ ... Register Free to receive our full analysis direct to your inbox or smart device.

Image Credit: European Parliament