EU plans phased oil ban on Russia, also targeting more banks

Published by
Reuters

By Benoit Van Overstraeten and Robin Emmott STRASBOURG (Reuters) -The European Union’s chief executive on Wednesday proposed a phased oil embargo on Russia over its war in Ukraine, as well as sanctioning Russia’s top bank and banning Russian broadcasters from European airwaves, in a bid to deepen Moscow’s isolation. The plan, if agreed by EU governments, would mark a watershed for the world’s largest trading bloc, which is dependent on Russian energy and must find alternative supplies. But Russia’s invasion of Ukraine by land, sea and air on Feb. 24, the renewed Russian offensive in eastern Uk…

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