"The European Union’s plan to phase out imports of Russian oil could have the added benefit of reducing the fossil-fuel-based emissions that are rapidly warming the planet.
The proposed ban, announced yesterday as part of the E.U.’s latest sanctions package, is largely an attempt to further deprive the Kremlin of the revenue it’s using to fund its war in Ukraine. However, the move could also end up further reducing Russian production and incentivizing Europe to accelerate its move away from fossil fuels, according to energy experts.
Much depends on what gets final approval as policymakers continue talks on the embargo. Under the proposal, imports of Russian crude oil to most of the E.U. would stop within six months, with refined products to follow by the end of the year."
Sara Schonhardt reports for E&E News May 5, 2022.
SEE ALSO:
"E.U. Proposes Ban On Russian Oil Imports By End Of Year" (Washington Post)
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