Published by
Reuters UK
Reuters UK
(Reuters) – Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases following Moscow’s invasion of Ukraine, but the European Union remains divided. The bloc’s 27 members have been unable to agree on an embargo, with Germany warning against hasty steps that could push the economy into recession, and, some countries, such as Hungary, opposing any bans. Germany, however, aims to phase out Russian oil imports by the end of this year, officials said, as does Poland. Many buyers in Europe are shunning Russian crude voluntarily to avoid reputational damage…