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E.U. Weighs Ban on Moscow’s Oil Exports

cigaretteman

HR King
May 29, 2001
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European officials are drafting the most contested measure yet to punish Moscow for its invasion of Ukraine, an embargo on Russian oil products — a move long resisted because of its enormous costs for Germany and its potential to disrupt politics around the region and increase energy prices.

The growing consensus around a step previously seen as politically untenable underscores the extent to which Russia’s invasion of Ukraine has unified the world’s biggest trading bloc against Russian aggression. It would need to be approved by the European Union’s 27 member countries to go into effect.

Europe is highly dependent on Russian energy supplies, and in the past the E.U has equivocated over such a drastic move because of fears of economic turmoil that could follow. There is also worry over President Vladimir V. Putin’s longstanding tactic of wielding Russian energy as a geopolitical weapon.
As the E.U. was considering how to ratchet up the costs of war for Mr. Putin, Russia’s flagship in its Black Sea fleet was “seriously damaged” on Thursday and its crew forced to abandon it, a symbolic blow to Russian forces that could also have strategic consequences for the war. The event quickly became caught up in the conflict’s parallel information war, with Ukraine claiming to have struck the vessel, Moskva, with Ukrainian-made Neptune missiles and Russia saying that an onboard fire had caused the damage.
Although analysts said the possible loss of the ship would not alter the course of the war, an attack by the Neptune missile systems, if confirmed, would be a significant sign of Ukraine’s military capability and could serve as a deterrent to Russian naval attacks. It would also be the first successful Ukrainian attack on a major Russian warship at sea rather than at port.

 
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