Even if the ban is decided quickly, it could take months for the ban to take effect.
European EU member states intend to adopt a gradual ban on imports of Russian oil as early as next week, says The New York Times citing anonymous EU sources.
According to the magazine, the already completed proposal will be approved at the meeting of EU ambassadors on Wednesday without the need for a summit. The ban on oil imports is the biggest and most important element of the EU’s sixth sanctions package.
The import ban is expected to start with oil imported by tanker and later be extended to pipeline oil. If the entry into force of the import ban follows the example of the previous coal import ban, it should allow countries to terminate their existing import agreements in peace. It can therefore take months for the ban to take effect.
The same sanctions package will also include sanctions against Russia’s largest bank, Sberbank, as well as Russian brands, the source says.
THURSDAY information came to light that Germany was ready to stop buying oil from Russia. The Wall Street Journal reports on the basis of anonymous sources.
Germany has been a major opponent of a possible EU ban on Russian gas and oil imports because it has been dependent on Russian energy.
According to The Wall Street Journal, Germany is now changing its mind about the import ban, as Poland has offered to assist it with oil supplies. According to the newspaper, Germany could buy oil on the world market and transport it through the Polish port of Gdansk.
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