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05-12-2022, 07:40 PM
https://www.politico.eu/article/west-oil...r-ukraine/
The West’s oil war with Russia gets real
Here’s what you need to know as EU sanctions and a price cap on Putin’s oil exports come into force.
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On Monday, a ban on the import of seaborne Russian crude oil comes into force. It's one of the EU’s toughest sanctions yet, designed to drive down the fossil fuel revenues that Vladimir Putin uses to finance his invasion of Ukraine.
Russia’s oil exports matter enormously to the world. It is the world’s second-biggest crude exporter, after Saudi Arabia. In 2021, around half of those exports went to Europe.
The West’s oil war with Russia gets real
Here’s what you need to know as EU sanctions and a price cap on Putin’s oil exports come into force.
.....
On Monday, a ban on the import of seaborne Russian crude oil comes into force. It's one of the EU’s toughest sanctions yet, designed to drive down the fossil fuel revenues that Vladimir Putin uses to finance his invasion of Ukraine.
Russia’s oil exports matter enormously to the world. It is the world’s second-biggest crude exporter, after Saudi Arabia. In 2021, around half of those exports went to Europe.
