E.U. proposes ban on Russian oil imports by end of year
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The European Commission has proposed a plan to phase out Russian oil imports, ratcheting up its efforts to cut off a key source of funding for the Kremlin.
The proposal, which must be approved by all member states, reflects extended negotiations over how far the European Union should go, and what sacrifices it should be willing to make, to penalize and isolate Russia for its war in Ukraine.
The phaseout is more gradual than the immediate embargo some countries had been pushing. It would ban oil imports after six months and refined petroleum products by the end of the year.
The announcement also didn’t mention Russian gas, a matter of increased urgency since Moscow last week cut off natural gas to Poland and Bulgaria and threatened the same fate for other countries that refuse to pay in rubles.
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