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The Member States of the European Union are considering a new round of sanctions against Russia. An embargo on Russian oil should be taken.
The European Union is continuing its discussions and could propose an embargo on Russian oil imports. However, Europe continues to buy energy from Russia: more than 53 billion euros since the start of the conflict in Ukraine. And it could well continue like this for a few months. Indeed, if there is an embargo, time should be left to the States in order to be able to organize themselves. Thus, imports of Russian oil will only be stopped in six months, those of refined products in eight months…
In the meantime, the states of the European Union will continue to pay Russia more than 750 million euros every day for energy supplies. It will therefore also continue to indirectly finance Vladimir Putin’s war. But today, it is impossible to cut the floodgates overnight: the risk of shortages is real.
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