Dombrovskis: EU members may still reach a conclusion on the Russian oil embargo.

In contrast to Russia, the European Union (EU) Commissioner for trade and executive Valdis Dombrovskis said that he firmly believes that the member nations will certainly reach an agreement on the size of the bloc’s sanctions package.

May 11, 2022 - 03:16 PM 259 views

Dombrovskis: EU members may still reach a conclusion on the Russian oil embargo.

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© Dombrovskis: EU members may still reach a conclusion on the Russian oil embargo.

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In contrast to Russia, the European Union (EU) Commissioner for trade and executive Valdis Dombrovskis said that he firmly believes that the member nations will certainly reach an agreement on the size of the bloc’s sanctions package.

Bulgaria and several other European Union (EU) member states have prohibited a ban on Russian oil imports.

Important Quotes

At the time of the consideration of the first five packages of sanctions against Russia, not all findings were taken on the spot, but at the closure of the meeting, all member states were able to acknowledge, and at present, we do except that this is going to be the case.

By allowing sanctions on hydro-carbons, we are slowing winning the heart of the Kremlin’s war machine financing.

The Market Reaction

The EUR/USD currency pair is keeping its level at around 1.0540, gaining 0.16% on the day.

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