Russian Oil Imports to Be Banned

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European commission president ursula van derlyon said it would cover seaborne pipe line crude and refined from russia. A move like this would normally be a mass of jolt to energy markets, but yesterday there as only a three % rise in oil prices. Tom wilson explains why this move has been trailed for months.

The US Federal Reserve raised its benchmark policy rate by half a percentage point for the first time since 2000, the European Union is trying to ban almost all imports of Russian oil, and the FT’s Ben Hall explains why Russia is making nominal military progress in Ukraine.

Mentioned in this podcast:

Hungary holds up EU plan to ban imports of Russian oil

Fed implements first half-point interest rate rise since 2000

Military briefing: ‘anaemic’ Russian advance heralds long attrition war

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva, and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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