Home News Imposing an EU embargo on Russian oil will take “several months”, according...

Imposing an EU embargo on Russian oil will take “several months”, according to European sources

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“The adoption of oil measures involves the termination of existing contracts, the finding of alternatives and the avoidance of circumvention,” said a European official involved in the negotiations.

“It will take at least several months,” he said.

“The Commission (European, EC) is considering options,” he said.

Among these options, this source cites making payments in a blocked account.

“A narrowing of demand will increase the price,” insisted several ministers and officials interviewed by AFP.

“The United States is very sensitive to the price of oil,” said one.

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“In addition, if Russia sells the oil refused by the Europeans to other buyers, this sanction will be useless,” warns another.

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