Two EU officials tell CNBC an immediate Russian oil embargo is unlikely

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Sharecast News | 22 Mar, 2022

17:30 25/11/24

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It's unlikely that Brussels will impose an immediate embargo on Russian oil, European Union officials said.

In remarks to CNBC, one EU official said that: "Only a minority of countries are in favour [of an oil embargo]."

Nonetheless, should Russia resort to chemical weapons "then nothing would be off the table" the same official added.

"If Russia starts using chemical weapons, we would be in a different situation."

A second anonymous EU official reportedly chimed in saying that: "Discussions continue but no decision likely this week unless [Russian President Vladimir] Putin does something even more outrageous."

Poland and the Baltic countries were said to be among the most vocal proponents of an oil embargo, whereas others - notably Germany and Hungary - were emphasising the potential economic costs as a result of higher prices.

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