European Union likely to approve Russian oil embargo next week: report
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European Union countries next week are likely to approve a phased embargo on Russian oil, dealing a significant economic blow to Moscow over its invasion of Ukraine, The New York Times is reporting.
The newspaper, citing EU officials and diplomats involved in the discussions, reported that ambassadors will meet Wednesday to go over a finalized proposal, and the expectation is they will approve the measures by the end of next week.
As the oil embargo is phased in, the European countries will turn to increased imports from Persian Gulf countries, Nigeria, Kazakhstan and Azerbaijan, The New York Times reports.