The European Union’s foreign ministers remained divided on Monday on whether to sanction Russia’s energy sector over its invasion of Ukraine. The EU has so far imposed four rounds of sanctions against Russia, targeting banks and oligarchs, while banning Russian aircraft from EU airspace and halting technology exports. Russian energy imports, on which Europe is highly dependent, are proving far more challenging of a proposal, with Germany and the Netherlands expressing opposition. Dutch Prime Minister Mark Rutte said on Monday that a near-term Russian energy embargo was unrealistic. “Too many refineries in the eastern and western part of Europe still completely depend on Russian oil and with gas it’s even worse,” Rutte told reporters after a meeting with Lithuanian President Gitanas Nauseda in Vilnius. “We have to deleverage that dependency. We need to do it as speedily as possible, but we can’t do this tomorrow,” he added. Earlier EU discussions led …
Europe Divided on Russian Oil and Gas Sanctions
March 22, 2022
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Business & Economycommoditieseconomic policiesEUEuropeMarketsoil sanctionsRussiaRussia-Ukraine WarWorld
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