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EU reaches compromise deal banning Russian oil imports

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As the war in Ukraine rages, the European Union has agreed to reduce imports of Russian oil by up to 90 per cent by the end of the year. The plan is expected to cut tens of billions of dollars from the Kremlin's coffers.

According to one estimate, the EU has paid Russia more than $77 billion for fossil fuels since the war began, effectively funding the Russian war chest.

And as Redmond Shannon reports, there are still frustrations over a few member nations that remain exempt from the agreement.

For more info, please go to https://globalnews.ca/news/8882052/canada-russsia-sanctions-financial-institutions/

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Category
U.S. & Canada
Tags
global news, Ukraine, Russia
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