**European Union to Ban Russian Oil Imports**.
**Brussels, March 8, 2022** – The European Union has agreed to ban Russian oil imports as part of a new round of sanctions in response to Russia’s invasion of Ukraine..
The ban is expected to come into effect within six months, giving EU member states time to adjust their energy supplies. However, some countries, such as Hungary and Slovakia, have expressed concerns about the impact of the ban on their economies..
The EU has been heavily reliant on Russian oil, importing around 25% of its total supply from the country. The ban is likely to lead to higher energy prices in the EU, but it is also expected to help reduce Russia’s income from oil sales, which are a major source of funding for its military..
**Details of the Ban**.
The ban will cover all imports of crude oil and petroleum products from Russia, including diesel, gasoline, and jet fuel. It will also apply to Russian oil that is transported through third countries..
EU member states will be allowed to continue importing Russian oil until May 15, 2022, in order to give them time to find alternative suppliers. However, after that date, all imports of Russian oil will be prohibited..
**Impact of the Ban**.
The ban is expected to have a significant impact on both the EU and Russia..
For the EU, the ban will lead to higher energy prices and may also lead to shortages of certain products, such as diesel fuel. However, the EU is also expected to benefit from the ban in the long term, as it will reduce its dependence on Russian energy and help to diversify its energy supply..
For Russia, the ban will lead to a significant loss of income. Russia earns around $250 billion per year from oil exports to the EU. The loss of this revenue will make it more difficult for Russia to finance its military operations in Ukraine..
**Reactions to the Ban**.
The ban has been met with mixed reactions. Some EU member states, such as Poland and the Baltic states, have welcomed the ban as a necessary step to punish Russia for its aggression towards Ukraine. Other countries, such as Hungary and Slovakia, have expressed concerns about the impact of the ban on their economies..
Russia has condemned the ban as an .
