Why the EU is nervous about imposing a ban on Russian oil and gas

  • Date: 21-Mar-2022
  • Source: SkyNews
  • Sector:Oil & Gas
  • Country:Gulf
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Why the EU is nervous about imposing a ban on Russian oil and gas

The West moved swiftly to hit Russia's economy following its invasion of Ukraine.

The most decisive action was to slap sanctions on the country's central bank, preventing Moscow from getting its hands on a substantial chunk of the $643bn in reserves it has accumulated over the last decade.

The United States and United Kingdom followed this days later with plans to ban Russian oil - the US also looking to outlaw gas imports.