This week the president of the European Commission, has unveiled a proposal to impose an EU-wide ban on Russian oil imports, one of Moscow’s main sources of revenue. The embargo will be structured and gradual, giving member states up to six months to phase out purchases of Russian crude and until the end of the year to stop buying all sorts of refined oil products. The ban will apply to all Russian oil traded both via ports and pipelines.
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From the Holland FinTech team, we wish you a great weekend.