EU to introduce oil embargo against Russian after April 24.

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Earlier, Russia threatened to cut off their natural gas supply to the EU if they impose sanctions on oil. Let’s see if they follow through on the threat. The EU is fucked without natural gas, but I doubt Russia can stomach another massive revenue hit

Olaf4586

The EU countries could radically decrease their gasoline/diesel taxes at retail … for the war’s embargo duration. The big problem is natural gas prices and finding replacement.

graybeard5529

Good for the fight against the war, frustrating for EU citizens that rely in their cars.

jacksodus

There was a good report proposing ‘smart sanctions’, done by a Washington think tank. The focus should be to drive prices down, in that way no embargo on Russian oil or gas but rather import tariffs for a smoother impact than the full stop. The embargos are too hard to swallow for some European industrials and drive world market prices up, which in the end benefits Russia.

mistergoodfellow78

It’s politics at its finest. Russia has demanded payments be made in Roubles in lieu of the contractually states Euros which the EU said no. However, Russia can’t even access those Euros because of sanctions so it’s basically “useless”. Around April 24 is when a number of utilities in the EU have to start paying their March O&G bill. And if they default, then obviously no gas. Either the EU gives Russia the finger and fucks over their own economy just as hard, or they pay Russia in roubles and get some nasty political coverage. However! With no Russian Oil and Gas in the EU, at least inflation may go down. People won’t have money to drive their cars, go buy things, etc. Can’t even turn on the lights all day lmao.

OMG_A_COW