Do you really know? What is the Russian Oil Embargo?
What is 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.
Meeting at the Brussels summit, the heads of state and government agreed to stop importing oil by sea, which currently represents ⅔ of the EU’s supply from Russia.
Why take such a measure? What about the oil left ? What else is in the sanctions package? In under 3 minutes, we answer your questions !
To listen to the last episodes, you can click here :
A podcast written and realised by Joseph Chance.
In partnership with upday UK.
Learn more about your ad choices. Visit megaphone.fm/adchoices