“Germany is now ready to stop buying Russian oil, clearing the way for a European Union ban on crude imports from Russia,” the Wall Street Journal reports.
“The German shift increases the likelihood that EU countries will agree on a phased-in embargo on Russian oil, with a decision possible as soon as next week… However, how quickly the bloc ends its Russian oil purchases, and whether it also uses measures such as price caps or tariffs, is still being negotiated. The U.S. is pressing its European allies to avoid steps that could lead to a protracted increase in oil prices.”

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