economy

March 26, 2026

FACTBOX: What is known about EU's position on ban on oil imports from Russia

The EU has revised its plan for a total ban on Russian oil imports in the wake of the US and Israeli military operation against Iran

FACTBOX: What is known about EU's position on ban on oil imports from Russia

TL;DR

  • The EU has postponed its plan for a total ban on Russian oil imports.
  • The revision is in response to the US and Israeli military operation against Iran and its impact on global oil supplies.
  • Iran's suspension of ship passage through the Strait of Hormuz led to a rise in Brent crude oil prices above $100 per barrel.
  • The European Commission has not yet set a precise date for the draft ban.
  • Russia's Special Representative suggested the EU should set a 'Begging for Gas and Oil date' instead.

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