EU plans oil embargo on Russia by the end of 2022
(VOVWORLD) - The EU plans to impose a ban on oil imports from Russia later this year, EU diplomats said, adding the bloc is preparing a sixth package of sanctions targeting Russia's oil sector, Russian and Belarusian banks, and many more related individuals and businesses.
 Gas pipeline system of Gazprom at Atamanskaya compression station on the outskirts of Svobodny town, Amur, Russia. Photo: Reuters |
EU officials said that some member states are likely to end the use of imported oil from Russia by the end of this year at the latest, but others in Southern Europe are concerned about the impact of the embargo on energy prices. Germany, one of Russia's biggest oil buyers, has said it is ready to end oil imports from Russia, but Austria, Hungary, Italy and Slovakia have still been hesitant to do so.
Permanent representatives of EU member states will meet on Wednesday to discuss the new sanctions package expected to be approved later this week.