EU/Russian Oil Embargo?

Hardly. Despite suggestive headlines. Perhaps the EU isn’t as insane as had been suspected? Perhaps?

The embargo covers Russian oil brought in by sea, allowing a temporary exemption for imports delivered by pipeline.

Ursula Von der Leyen, the head of the EU’s executive branch, said the punitive move will “effectively cut around 90% of oil imports from Russia to the EU by the end of the year”

Both Mr Michel and Ms Von der Leyen said leaders will soon return to the issue, seeking to guarantee that Russia’s pipeline oil exports to the EU are banned at a later date.

Looks as if the EU bought some time.. likely with the hope the Russia/Ukraine situation will be resolved.

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