Published by
Reuters UK
Reuters UK
LONDON (Reuters) – The European Union has proposed a phased embargo of Russian oil, tightening its sanctions on Moscow for its invasion of Ukraine. What would the impact be of banning Russian barrels in Europe? WHAT DOES THE EU CURRENTLY IMPORT? The European Union imported 2.2 million barrels per day (bpd) of crude oil and 1.2 million bpd refined oil products before the war in Ukraine, according to the International Energy Agency (IEA). CARS Filling up your car will probably get more expensive. Europe imports not only crude oil from Russia but also refined oil products, such as diesel to fuel …