The Pat Kenny Show Highlights
Eu leaders agree an oil embargo for Russia
May 31, 2022
Irish Times Europe Correspondent and CEO of Fuels for Ireland discuss the EU's oil embargo on Russia and its repercussions on Ireland. Topics include European dependency on Russian oil, impacts on energy ties, financial resources, global food supplies, defense strategies, consumer petrol prices, and disruptions in the oil supply chain.
14:26
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Quick takeaways
- EU leaders imposed an oil embargo on Russia to weaken financial support for their war efforts.
- Sanctions also target prominent Russians and aim to limit Russian lobbying in the EU.
Deep dives
EU Leaders Agreed to Block Two-Thirds of Russian Oil Imports
EU leaders reached a consensus to block more than two-thirds of Russian oil imports as part of the sixth round of sanctions, aiming to weaken Russia's financial ability to support its war efforts. Countries like Germany and Poland are also phasing out pipeline oil imports from Russia, contributing to a significant reduction in Russian oil supply to Europe. This move marks a shift in EU energy policy and aims to increase energy resilience while undermining Russia's financial resources for warfare.
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