The European Union (EU) is moving forward to propose a ban on Russian oil by the end of 2022.
Until this ban is put into effect, the EU will continue to implement restrictions on imports of Russian oil.
The EU also plans to push for more thoroughgoing sanctions on Russia and its allies by advocating for more Russian and Belarusian banks to be cut off from the SWIFT telecommunications network. Bloomberg reported that this list of banks includes Sberbank PJSC, Russia’s largest financial institution, which has been providing a vital economic lifeline in recent months. Sberbank was previously sanctioned by the […]
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