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EU considers ban on Russian oil imports and other new sanctions

EU foreign ministers will consider the fifth package of sanctions against Russia today, on March 21, Reuters reports. The sanctions list is planned to be significantly expanded with new names. But most importantly, Brussels is discussing imposing an embargo on Russian oil.

The Baltic states insist on a ban on oil imports from the Russian Federation. However, Germany warns against hasty decisions due to rising energy prices. The reason for the energy embargo could be a "Russian chemical attack" in Ukraine or a "massive bombing of Kyiv," sources told Reuters.

Moscow allegedly warned the EU that an oil embargo could lead to the shutdown of a major gas pipeline to Europe.

The US and UK have already announced an embargo on Russian oil. Supplies to these countries account for less than 14% of Russian exports of oil and oil products.

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