Explainer: Who is buying Russian crude oil and who has stopped
Here is the response by countries regarding purchases of Russian oil following Moscow’s invasion of Ukraine on February 24, and how companies have acted.
Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases but the 27 members of the European Union have not been able to agree on the embargo. read more
The EU aims to reduce its dependence on Russian oil and gas by two-thirds by the end of the year and to zero by the end of 2027, EU Economic Commissioner Paolo Gentiloni has said.
Germany, the EU’s largest economy, has announced plans to end its dependence on Russian oil by the close of this year.
While the EU has not imposed an embargo, many companies in Europe have stopped buying Russian crude voluntarily or promised to do so when their long-term contracts expire.









