EU Agrees to Partial Embargo Against Russian Oil

Last night the EU voted to approve a partial ban of oil imports from Russia, beginning with an embargo of all oil coming in by (Russian) ships—which will affect two thirds of Russian oil exports to Europe. Oil coming in by pipeline will be allowed to continue to flow for another six months. That temporary exemption covers the remaining Russian oil not yet banned, European Commission President Ursula von der Leyen explained in a press conference. The goal is to reduce imports of Russian crude oil by 90% by the end of this year, and thus deprive Russia of the funds the EU insists the Putin government is using “to finance the war” against Ukraine.