The Case for and against EU Sanctions on Russian Oil

The Case for and against EU Sanctions on Russian Oil

European Union countries on Thursday approved a ban on Russian coal imports from August as part of new measures against Moscow, but are split over whether oil or gas sanctions should follow.

The coal embargo is the EU's first energy sanction against Moscow following its invasion of Ukraine. Officials say the bloc will now discuss sanctions on oil, which represent far bigger imports from Russia than coal.

However, not all countries are on board, with some like Germany and Hungary fearing the economic impact even though civilian killings in Ukraine have increased Europe's resolve to punish the Kremlin.

Russia denies allegations that it has targeted civilians in what President Vladimir Putin calls a "special military operation" to disarm Ukraine.

Here are arguments for and against sanctioning Russian oil.

The case for oil sanctions

Ukraine and EU states including Poland and Lithuania want a ban on Russian oil and gas. Oil is Russia's most lucrative energy export, and blocking it would deprive Moscow of a major revenue stream those countries complain is funding the war.

EU lawmakers on Thursday approved a non-binding resolution for an immediate embargo on Russian energy imports.

Oil and oil products made up more than a third of Moscow's export revenues last year. Currently, Europe