Bloomberg: EU to propose embargo on Russian oil by end of 2022
The European Union is ready to propose an embargo on Russian oil at the end of the year, Bloomberg said, citing information from sources.
This comes after the New York Times cited information from sources that EU countries will probably approve a phased embargo on Russian oil next week.
“The EU plans to propose an embargo on Russian oil at the end of the year, which would be preceded by phased restrictions on imports,” the paper’s circular said.
Other proposals that could be part of the next package of sanctions against Russia include restrictions on “consulting services and services based on cloud technology and the purchase of property,” according to the source.
Western countries have imposed multiple sanctions in response to Russia’s special operation to demilitarize and denazify Ukraine. Some companies have announced their withdrawal from the Russian market and the closure of production in Russia.
Russian Foreign Minister Sergey Lavrov pointed out that Western companies that refused to cooperate with Russia made this step under great pressure, but Russia will solve all economic problems that Western countries have created for Russia.