Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases following Moscow's invasion of Ukraine, but members of the European Union are split.
(Reuters) - Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases following Moscow's invasion of Ukrain.
Russian gas flows to Europe remain stable, but Western sanctions over Moscow’s invasion of Ukraine and voluntary actions by buyers are starting to impact its crude oil and oil product sales. While only a few countries, including the United States, Canada and Australia, have imposed outright bans, some buyers in Europe are shunning Russian oil .
Russian gas flows to Europe remain stable, but Moscow is starting to face problems in selling its crude oil and oil products as Western sanctions over Russia’s invasion of Ukraine and voluntary actions by buyers start to bite. JP Morgan estimated around 70% of Russian seaborne oil was struggling to find buyers, despite record discounts .