Us Gains In Push For Exemption From Eu Sanctions On Russian Oil

After weeks of internal strife, the EU approved a ban on securing Russian oil shipments in early June, in parallel with a ban on Russian oil imports that will take effect next year. As many Russian oil shipments are insured in the EU and the UK, Finance Minister Janet Yellen has repeatedly stated that she is concerned that EU plans could remove Russian oil from the world market and further raise prices.