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The EU has proposed sanctions against Russia. It not only embargos on Russian oil but also plans to ban shipping, brokerage, insurance, and financing services offered by EU companies for the transport of Russian oil worldwide.
Ursula von der Leyen, president of the European Commission, recently announced that crude oil and refined products from Russia would be banned within six months and by the end of this year, respectively.
Furthermore, the prohibition includes that vessels owned, chartered, or controlled by European entities and individuals will be banned to ship crude oil and petroleum products from Russia to other countries. Greece, Malta, and Cyprus questioned the proposal.
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