The sixth and most difficult package of sanctions in Russia at the negotiating table in Brussels. The Greek side will ask the Commission for a cost-benefit analysis. Several Member States are calling for amendments to yesterday’s proposal by the Commission to phase out Russian oil imports into the European Union, as it poses significant problems […]
Tag: oil
German Press: A new ‘Iron Curtain’ is emerging
According to the press, preparations are underway for the sixth package of sanctions against Russia and the imposition of an embargo on Russian oil. The risk of abortion ban in the US in the comments. “With the draft of the sixth package of sanctions against Russia, which is ready in Brussels, for the first time […]
Ukrainian official: Ukraine wants full energy embargo on Russia
Kyiv hopes the European Union will impose an embargo on Russian gas and oil and wants Ukraine and Europe to “completely abandon Russian energy resources,” a senior member of the Ukrainian parliament said on Thursday, according to Reuters. Andriy Gerus, who heads parliament’s Energy and Utility Committee, said he expected Ukraine’s fuel supply to improve […]
What is the potential impact on Europe of the embargo on Russian oil?
The European Union has proposed a gradual embargo on Russian oil, tightening sanctions against Moscow for its invasion of Ukraine. Reuteres raises the question of what would be the implications of banning Russian barrels in Europe? What is the EU importing? The European Union imported 2.2 million barrels of oil per day and 1.2 million […]
‘Jump’ around 5% for oil with push from European embargo to Russian crude
Oil prices ‘jump’ Wednesday after finding support for European Union plan to gradually stop importing Russian oil and refined products, as announced by the head of the Commission Ursula von der Leyen. “We will gradually phase out the supply of Russian crude oil within six months and refined products by the end of the year,” […]
WTI rises to $106.00, eyeing recent highs near $110
Oil prices are sharply higher on Wednesday, with a focus on EU proposals to ban imports of Russian oil. WTI is trading up $3.0 towards $106.00 and is targeting recent highs in the $108-$110 zone. oil prices have risen sharply on Wednesday in the wake of a European Commission proposal to phase out all imports […]
The EU proposes to ban all services for the transport of oil from Russia within a month
Reportedly, the EU is ready to propose a ban on all shipping, financing and insurance services for the transport of Russian crude worldwide within a month, an EU source told Reuters on Wednesday. An EU ban on Russian oil imports would take effect within six monthsthe source added, without a phase-out, and would cover both […]
EU: No agreement on Russian oil embargo – Discussions continue tomorrow
LAST UPDATE: 18.33 Representatives of European Union countries failed to reach an agreement today on the Russian oil embargo proposed by the Commission, but are expected to converge tomorrow, Thursday, a knowledgeable official told Reuters. It is recalled that earlier today, the President of the Commission, Ursula von der Leyen, presented to the European Parliament […]
Reactions from the Czech Republic and Hungary to aspects of the embargo on Russian oil
The European Union’s proposed ban on Russian oil imports does not include burden-sharing mechanisms, said Czech Minister of Industry and Trade Jozef Sikela. “The proposal does not include … the way the burden will be shared, which means how it will be shared fairly, and a proposal for joint procurement and joint distribution,” the Czech […]
Germany: Padlock on Russian oil refinery in Svend?
There has been a lot of talk lately about the Svend refinery in the town of the same name, located on the Odira River and bordering Poland. In an interview with ZDF’s second television network, Chancellor Olaf Solz expressed particular concern about the closure, in the context of sanctions proposed by the European Commission. Why; […]