Putin Sets Russians on Wild Hunt for Dollars in Black Market

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Reuters

Putin says it’s impossible for some EU countries to ditch Russian oil now

EU members are negotiating a proposed oil embargo on Russia over Ukraine, but talks failed this week because of a veto from Hungary, which is heavily dependent on Russian oil imports. “Obviously, some EU states, in whose energy balance the share of Russian hydrocarbons is especially high, will not be able to do this for a long time, to ditch our oil,” Putin said. Speaking at a televised meeting with domestic oil managers and government officials, Putin also said that Western sanctions and a possible embargo on Russian oil had resulted in an increase in global oil prices.

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