Oil embargo

News Today 06.05.2022

International law assumes a new economic dimension, as indeed the Russia-Ukraine war, with Friday’s decision of the European Union to approve very shortly what it calls a “phased embargo” on Russian oil. It is a measure that has been postponed for as long as it has; the fairly drastic step has divided EU members and underlined their dependence on Russian energy sources. It has taken weeks for EU countries to agree on the contours of the measure. Intensive talks will be held with the European Commission next Wednesday before it puts a finalized proposal on paper for EU ambassadors to approve. (Read More)

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