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we start with the war in ukraine. we ll look at what s happening on the ground in a moment. first to sanctions. eu leaders have finally agreed on a partial embargo of russian oil imports. it will affect oil that arrives by sea. that s around two thirds of imports. this is the second day of the summit. we know that the eu has been trying to work out a way to ban russian oil imports for months. we ll get into why it s been so complicated in a minute. first, this is the president of the european commission. we decided then to have a ban now on de facto 90% russian oil imports of russian oil imports to the european union by the end of the year. and this comes at a time when we see that russia has disrupted supplies to, by now, five member states finland, bulgaria and poland but now to a company in the netherlands and a company in denmark. that message was echoed by the ukrainian foreign ministry. they said. let s look at the bigger picture. russia currently supplies abo ....
China’s push for a different world order that diminishes the US has extended to using its own currency instead of the dollar to pay for oil and gas imports, but the so-called “de-dollarisation” of some Chinese trade will not weaken the global importance of the greenback anytime soon. [Gas in Transition, Volume 3, Issue 9] ....
And his opposition to this initial proposal from the eu. he says that because hungary get this particularly high soulful rich oil through the pipeline, it would have cost hungary hundreds of millions of euros to change that. he was asking at one point, suggesting that money could be paid to hungary in order to sign up to the sanctions. the commission shows up different route by exempting anyway that oil pipeline. mr orban speaking, presenting that is a great position for him. dr carole nakhle is an energy economist and the ceo of crystol energy. thanks very much for coming on the programme. thanks very much for coming on the programme- thanks very much for coming on the programme. let s - thanks very much for coming on the programme. let s start l programme. thank you. let s start with this impact programme. thank you. let s start with this impact on programme. thank you. let s start with this impact on russia. - programme. thank you. let s start with this impact on russia. it - ....
Bought by the eu. how big of an impact will it have? impact will it have? if it was a 10096 ban, impact will it have? if it was a 10094. ban, the impact will it have? if it was a 10096 ban, the impact - impact will it have? if it was a 10096 ban, the impact would i impact will it have? if it was a - 10096 ban, the impact would have been 100% ban, the impact would have been pretty detrimental on the russian economy because they are exporting revenues from oil and gas. but because, first of all, that ban will not be effective immediately. it will be implemented over six to eight months. oil prices have decreased, so even if russia sends less, it might more than compensate if prices continue the upward march. also, russia still has access to other important markets, primarily asia, because half of the world are ....
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