EU expected to fully embargo Russian oil within nine months
The European Union will impose full embargo on Russian oil within nine months, European Commissioner for Economy Paolo Gentiloni said in an interview with the Italian newspaper Il Messaggero published on Friday, News.Az reports.
The commissioner noted that the proposal is to embargo oil, depending on the types of petroleum products, within nine months.
“Shorter terms would trigger a negative impact on global oil prices, which contradicts our goals,” Gentiloni said.
“The decision will affect the European economy,” the commissioner said, adding that it will hit Russia’s economy harder.