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Europe Bans 90% of Russian Oil

Brent up 3.5%

31/05/2022 14:28
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Oil prices, May 2022

Oil prices, May 2022

Oil prices have risen another 3.5% to $123.70 for brent crude oil as the European Union finally moves to ban most Russian oil.

Russian oil imports that arrive from the sea, accounting for 2/3rd of all imports, and in the case of Germany and Poland oil that arrives from pipelines too, will be banned, amounting to 90% of all EU’s imports of Russian oil.

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