- May 30, 2022
- Posted by: AliensFaith
- Category: OBJECTIVE PRESS
Rolling coverage of the latest economic and financial news
- EU leaders agree to partial embargo of Russian oil imports
- Shanghai starts to dismantle fences as Covid lockdown due to end
- Online fashion retailer Missguided calls in administrators
- Home Office cancels Border Force contract with P&O Ferries after mass sackings
The oil price has jumped after European leaders agreed a partial ban on Russian oil imports.
After lengthy talks in Brussels, the EU agreed to an embargo on most Russian oil imports, to cut the finances flowing to Moscow.
Volodymyr Zelenskiy had earlier appealed to EU leaders to show unity against Vladimir Putin. At a summit in Brussels, EU leaders had been attempting to find a way to placate the Hungarian prime minister, Viktor Orbán, who has been holding up a deal on the latest sanctions against Putin’s war machine.
Under a compromise plan that was discussed at the summit, Russian oil transported through the Soviet-era Druzhba pipeline for Hungary, the Czech Republic and Slovakia would be exempt from the EU embargo.
