Skip to main content
Breaking NewsBusinessInternational NewsLatest NewsWorld News

EU approves sanctions targeting Russian oil, banks, and military officials

By 06/03/2022 12:27 PMNo CommentsBy YidInfo Staff

On Friday, the European Union agreed to a partial ban on Russian oil as punishment for Kremlin invading Ukraine.

Sources said the package targets Russian oil delivered by sea and exempts oil that moves via pipeline.

The giant Soviet-era Druzhba pipeline connects Russia with several Eastern and Central European countries.

EU foreign policy chief Josep Borrell tweeted that the package is “a big blow to Putin’s war chest,” referring to Russian President Vladimir Putin.

According to reports, the watered-down ban on oil was secured after Hungary, and other landlocked countries lobbied heavily against a proposal for a full EU embargo on Russian oil for nearly a month.

Insiders reveal that the European Union is to first phase out imports of Russian crude oil within six months and refined products by the end of the year to cut off a major source of revenue to the Kremlin.

Moreover, it was learned that the sanctions target two-thirds of Russian oil imports.

JOIN US ON WHAT'SAPP, TO GET INSTANT STATUS UPDATES AND BE IN THE KNOW.

CLICK HERE
By providing your phone number, you will receive text message updates from Yid-Info. You can opt out at any time by responding STOP.

bobby bracros

Author bobby bracros

More posts by bobby bracros

Leave a Reply

WordPress Ads