Money Talks

Oil prices jump on reports of gradual EU ban on Russian shipments

Oil prices have jumped on speculation that European nations are going ahead with banning Russian crude shipments, albeit gradually. According to the New York Times, the phased approach by the European Union will give members such as Germany time to find alternative suppliers. Already, private companies are shunning Russian oil voluntarily as sanctions mount over the attacks in Ukraine. The International Energy Agency says that could cut global supplies by 3M barrels a day. For more on the story Osama Rizvi joined us. He's an energy and economic analyst at Primary Vision in Lahore, Pakistan. #RussiaAttacksUkraine #RussiaEnergyExport #RussiaOilExport

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