2022-05-24, 01:31 AM
EU embargo on Russian oil is expected "within days"
Robert Habeck, German Economic and Climate Protection Minister, at the World Economic Forum 2022 in Davos, Switzerland, May 23, 2022. / Photo credit: Arnd Wiegmann, Reuters
The European Union will likely impose ban on russian oil imports in the coming days, as Germany's economy minister Robert Habeck told German broadcaster ZDF "We will reach a breakthrough within days," he said, according to Reuters. However, he warned that an embargo would not automatically weaken the Kremlin's war machine. After the United States announced an embargo on russian oil, the global prices rose, so russia could have more income while selling lower volumes of its resources.
That's why the effective way for the European Commission and United States would be to manage global oil prices, Habeck said.
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Robert Habeck, German Economic and Climate Protection Minister, at the World Economic Forum 2022 in Davos, Switzerland, May 23, 2022. / Photo credit: Arnd Wiegmann, Reuters
The European Union will likely impose ban on russian oil imports in the coming days, as Germany's economy minister Robert Habeck told German broadcaster ZDF "We will reach a breakthrough within days," he said, according to Reuters. However, he warned that an embargo would not automatically weaken the Kremlin's war machine. After the United States announced an embargo on russian oil, the global prices rose, so russia could have more income while selling lower volumes of its resources.
That's why the effective way for the European Commission and United States would be to manage global oil prices, Habeck said.
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