The German Minister of Economy, Robert Habeckdeclared on Monday that “Germany is ready to go ahead with the oil embargo on Russia even without Hungary“.
Habeck was “disappointed” that it is taking “so long” to agree on a proposed oil embargo against Russia.
These comments come after Reuters reported on Sunday, citing sources, that “Germany and Italy told companies they could open ruble accounts to continue buying Russian gas without breaching sanctions against Moscow following talks with the European Union.”
market reaction
The EUR/USD remains in its range around 1.0600, after retreating rapidly from daily highs of 1.0613. The pair is up 0.34% on the day as the US dollar continues its corrective decline.
Source: Fx Street
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