EU agrees to cut 90% of Russian oil imports

[Chris]

EU agrees to cut 90% of Russian oil imports
EU resolves impasse over Russian oil ban • Zelensky says situation remains 'extremely difficult' • Russian forces enter fringes of Sievierodonetsk - governor
By REUTERS
Published: MAY 31, 2022

European Union leaders agreed on Monday to ban most imports of Russian oil to the 27-nation bloc as Ukrainian and Russian forces battled on the outskirts of Sievierodonetsk, the last city still held by Kyiv in Ukraine's strategic Luhansk province. In the bloc's toughest sanction on Moscow since the invasion of Ukraine three months ago, European Council President Charles Michel said the ban agreed at an EU summit in Brussels would immediately cover more than two-thirds of oil imports from Russia and cut a "huge source of financing for its war machine."

The leaders said they had agreed to cut 90% of oil imports from Russia by the end of this year, with exemptions for Hungary - a landlocked country that relies heavily on crude piped from Russia - and others concerned about the ban's economic impact. EU leaders also agreed to cut off the largest Russian bank, Sberbank, from the SWIFT system and to ban three more Russian state-owned broadcasters, Michel added. The announcement came as Russia pressed its attacks in Ukraine's eastern Donbas region, where Ukrainian President Volodymyr Zelensky said the situation remained "extremely difficult."

more............... https://www.jpost.com/international/article-708120

 

[Tall Timbers]

When Russia is finished with whatever it is doing in Ukraine, and keeps the land it has conquered, of course, I wonder how much time will pass before Europe is once again relying on Russia for oil/natural gas.

 

[Jaybird]

The globalists don't like Russia because they won't play along with them so they will isolate them as much as they can. I wouldn't be surprised if they turn to Israel's huge gas reserves to heat their homes in the winter. This is a quote from the Israeli Times: 5/26/2022 "To free itself of Russian influence, Europe is now talking about building more gas infrastructure, extending the life of coal plants and finding other ways to replace Russian gas. It's a dramatic reversal, according to Nati Barenboim, general manager of Israel's Independent Power Producers' Association."If we looked at the European market a year ago, they were talking seriously about closing all their fossil fuel power plants, including gas, and relying only on renewables and batteries. Now they've completely changed their philosophy about natural gas," Barenboim said." This will in the future embolden Gog to attack Israel for its (gas) spoils.

 

[daygo]

When Russia is finished with whatever it is doing in Ukraine, and keeps the land it has conquered, of course, I wonder how much time will pass before Europe is once again relying on Russia for oil/natural gas.

Or maybe get it from Israel and you know what happens next.

 

[Carl]

Lord Your Will be done.

 

[Armor of Light]

Maybe that brings the "hook in the jaw" . We will know the EU is serious when they start eliminating natural gas from Russia.

 

[DanLMP]

With Winter winding down in the northern hemisphere I imagine the need for Russian oil is decreasing.

If they don't get their ducks in a row before next Winter though it will be trouble all over again.