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Pressure increases on Europe for total Russian energy embargo
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Pressure increases on Europe for total Russian energy embargo

Pressure is mounting on Europe for a total energy embargo on Russia. A full energy embargo could throw the EU into recession.

Where: Europe, Russia

The Facts

Pressure is mounting for the European Union to cut off Russian oil and gas imports.
A complete energy embargo would likely throw the EU into recession and have serious geopolitical ramifications.
Earlier last week, the EU stated that it would ban coal imports worth 4 billion euros per year, with some countries pushing for oil to be next.
One of the EU’s top diplomats, Josep Borrell, stated, “Each day, roughly, we are paying €1 billion to import Russian energy, and that’s, obviously, a source of income that’s used to finance the war.”
Cutting off coal and oil is expected to be relatively doable. Natural gas, however, requires a level of infrastructure — pipeline, transport, and storage — that can’t easily be replicated quickly.

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