EU embargo on Russian oil "within days", German economy minister says
World09:2724 May, 2022

European Union is close to agreeing on an embargo on Russian oil

EU embargo on Russian oil "within days", German economy minister says
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The European Union is close to agreeing on an embargo on Russian oil imports, Germany's economy minister told broadcaster ZDF Monday night.

"We will reach a breakthrough within days," Robert Habeck said.

But he added that such a ban would not hurt Russia immediately since the surge in global oil prices had meant that it was earning more for lower volumes.

Russia supplies 40% of the EU's natural gas and 27% of its imported oil - the EU pays the country roughly €400 billion a year for this supply.

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