According to the New York Times, Europe will decide on a gradual embargo on Russian oil in the coming days. According to the newspaper, citing European Union officials, the bloc countries are likely to approve the “phased embargo” on Russian oil already from next week.
The report notes that European ambassadors are expected to approve a final proposal by at the end of next week after their meeting on Wednesday.
As it is emphasized, the embargo on oil will be the biggest and more important new step in the sixth package of EU sanctions against Russia since its invasion of Ukraine on 24 February.
The package will also include sanctions against Russia’s largest bank, of Sberbank, as well as additional measures against Russian oligarchs, officials said.
The American newspaper cites several European Union officials and diplomats involved in the process.
Germany appeared ready to support the proposal for an embargo on Russian oil on Wednesday, provided, however, that there will be a transitional period in order to mitigate the consequences for the economy. according to a Bloomberg report.
Germany considers its independence from Russian oil a “matter of days”, Economy Minister Robert Habeck from Warsaw said on Tuesday, where he was meeting with his Polish counterpart Anna Moskva.
In 2021 the imports accounted for 35% of Germany’s total imports.
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