Europe finally agrees to stop buying Russian oil

The EU proposal would ban Russian oil gradually over the next six months and refined fuels by the end of this year, in retaliation for Russia’s invasion of Ukraine.

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European Commission president Ursula von der Leyen announced earlier on Wednesday that the bloc of 27 countries are aiming to phase out crude oil from Russia within six months, and refined products by the end of the year.

She said: ‘’We will make sure that we phase out Russian oil in an orderly fashion,’ she told the European Parliament in Strasbourg as she presented a sixth package of sanctions against Moscow to deny funding to its Ukraine war effort.”