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EU leaders and Biden will discuss imposing an oil embargo on Russia

It can be included in the fifth round of sanctions.

EU leaders and Biden will discuss imposing an oil embargo on Russia

The European Union leaders will consider whether to impose an oil embargo on Russia over its invasion of Ukraine as they gather this week with th U.S. President Joe Biden, who will visit Europe.

Now the U.S. and Europe are working on a fifth round of sanctions against Russia, Reuters informs. 

“We are working on a fifth round of sanctions and many new names are being proposed," a senior EU diplomat said on condition of anonymity because the discussions are not public.

Today the EU governments will take up the discussion among foreign ministers. Biden arrives in Brussels on Thursday for summits with NATO's 30 allies, as well as the EU, and in a Group of Seven (G7) format. 

Great Britain and the USA have already taken measures to reduce the use of russian oil, but the European Union depends on it much more significantly. 

Baltic countries are pushing for an oil embargo as the next sanction step, while Germany is warning against “acting too quickly” because of already high energy prices in Europe, - the agency says with reference to the diplomats. 

Moscow has warned that sanctions on russian oil could prompt it to close its gas pipeline to Europe. The EU relies on Russia for 40% of its gas, with Germany among the most dependent. Germany is also the largest EU buyer of Russian crude oil. 

Bulgaria, which is almost completely dependent on gas supplies from Russia's Gazprom , has said it might seek an opt-out. All EU sanctions decisions require the consensus of all countries. 

We remind, Ukraine has demanded imposing an oil embargo since the first days of the war, but the EU has not included it in the previous four rounds of sanctions.

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