EU Agrees On 'Partial' Ban On Russian Oil Imports
Because going all the way is a bit too inconvenient.
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Subscribe for free to get more stories like this directly to your inboxThis morning in Europe saw the European Union (EU) agree on the partial ban on Russian oil imports. European Council chief Charles Michael announced in a tweet.
Agreement to ban export of Russian oil to the EU. This immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine.
The announcement comes after meetings on Monday that discussed the sixth package of EU sanctions against the undemocratically elected regime of Russian President Vladimir Putin. However, those sanctions included de-Swifting the largest Russian bank Sberbank, banning three more Russian state-owned broadcasters, and sanctioning those responsible for war crimes -- none of which will cause Putin to rethink his war.
The oil agreement says the EU will agree to ban 90 percent of Russian oil imports by the end of the year, meaning Putin will have access to large quantities of oil revenue for several more months and will continue to do so into 2023 (10% is substantial) if the war continues.
Will the sanctions accomplish anything, or are they more for public relations purposes? Well...they are unlikely to dampen Putin's war effort and are currently a minor inconvenience at best.
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