: European Union agrees to ban 90% of Russian oil imports #IndiaNEWS The European Union on Monday agreed to ban 90% of oil imports from Russia by the end of 2022.“I am very glad that the leaders

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European Union agrees to ban 90% of Russian oil imports #IndiaNEWS
The European Union on Monday agreed to ban 90% of oil imports from Russia by the end of 2022.“I am very glad that the [European Union] leaders were able to agree in principle on the sixth sanctions package [against Russia],� said European Commission President Ursula von der Leyen. “Thanks to this, the Council should now be able to finalise a ban on almost 90% of all Russian oil imports by the end of the year.�The European Commission is the executive branch of the European Union.With the ban, the European Union governments, which are heavily dependent on Russia for oil, will have to find alternative sources of supply. On Tuesday, Belgium and Ireland – while they appreciated the ban – said that Europe will take time to adjust to the impact of the embargoes, the Associated Press reported.Russia is the world’s largest exporter of crude and fuels and with numerous buyers boycotting the country, it has raised fears of supply disruption.The United States and the United Kingdom have already banned oil imports from Russia.These embargoes are among the many sanctions placed by western countries on Russia after it invaded Ukraine.On Monday, Leyen said that the ban on the import of oil was an “important step forward�. She was speaking at the European...Read more

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