April 25, 2022 - 02:53 PM 293 views
The heavy spread of COVID in China has directly impacted crude oil prices. Now, it is under pressure with WTI at 1.42% for the session. This has impacted the European Union's (EU) decision to consider smart sanctions against Russian oil imports.
The European Commission’s Executive President, Valdis Dombrovskis, said on Monday to the Times that "they’re working on a sixth set of sanctions, and an oil embargo is one of the options they're contemplating." Therefore, it's necessary to impose sanctions in such a way that should increase pressure on Russia while limiting the collateral damage to ourselves.