[RERUN] What is the Russian Oil Embargo?

A European Union embargo against maritime shipments of crude oil from Russia went into effect on the 5th of December 2022, along with a price cap agreed to by the Group of Seven leading industrialized economies and Australia. Listen to our rerun episode about the Russian Oil Embargo.

The EU unanimously took this decisive measure on the night of 30th May 2022, a little over 3 months since Russia began its invasion of Ukraine. Between now and the end of the year, the Union’s 27 member states will cut imports of Russian oil by 90%. Russia is one of the three biggest oil producers in the world, after Saudi Arabia and the United States. The embargo concerns not only crude oil, but also refined fuels like diesel. The agreement marks the sixth package of sanctions against Russia to come from Brussels, following previous measures.

Why take such a measure? Mais quid du tiers du pétrole restant ? What else is in the sanctions package? In under 3 minutes, we answer your questions!

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A Bababam Originals podcast, written and produced by Joseph Chance.

In partnership with Upday UK.

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