EU agrees ban on most Russian oil imports
May 31, 2022 - The European Union has agreed a sixth round of sanctions against Moscow including a ban on oil imports. About 2.3 million barrels a day of Russian crude heads west via pipelines and ports.
The sanctions would forbid the purchase of crude oil and petroleum products from Russia delivered to member states by sea but include a temporary exemption for pipeline crude, European Council President Charles Michel said late Monday during a summit in Brussels, according to Bloomberg.
The European Commission has proposed to ban seaborne crude oil six months from adoption, while refined petroleum products would be halted in eight months, according to people familiar with the most recent version of the proposal. Shipments of oil through the giant Druzhba pipeline to central Europe will be spared until a technical solution is found that satisfies the energy needs of Hungary and other landlocked nations, Bloomberg said.