BREAKING: The U.S. and the U.K. have announced a ban on the import of Russian oil.
President Joe Biden is pushing ahead with measures against Russian fossil fuels, also including liquefied natural gas and coal, as soon as Tuesday. The U.K. plans to phase in the restrictions over several months, according to people familiar with their plans. The U.K. ban won’t affect gas imports.
The European Union is considering issuing joint bonds on a massive scale to help counter the fallout from Putin’s invasion of Ukraine. The EU, which is more heavily reliant on Russian energy, has been split on whether to halt energy imports from Russia.
