© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
US OUTLOOK/OPINION

Recession Consensus Mounts: Timing/Severity Vary (3/4)

US TSY FUTURES

BLOCK, 2Y Sale

EURGBP TECHS

Trend Signals Point North

US OUTLOOK/OPINION

Recession Consensus Mounts: "40+% Chance" Views (2/4)

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

EU Russian Oil Embargo May Be Approved Next Week

ENERGY SECURITY
Political RiskPolitical Risk BulletBulletMarketsFixed IncomeForeign ExchangePolitical Market News

The New York Times has reported that an EU wide embargo of Russia oil may be approved as early as next week.

  • NYT: 'The ambassadors will meet on Wednesday and expect to give their final approval by the end of the week, several E.U. officials and diplomats involved in the process say.'
  • The same piece also suggests that 'barring an unlikely last-minute demand by Hungary, which has been dragging its feet, the process should be completed without requiring an E.U. leaders’ meeting.'
  • It is understood that Russian oil will be phased out over a period of months, a condition requested by German Chancellor Olaf Scholz.
103 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The New York Times has reported that an EU wide embargo of Russia oil may be approved as early as next week.

  • NYT: 'The ambassadors will meet on Wednesday and expect to give their final approval by the end of the week, several E.U. officials and diplomats involved in the process say.'
  • The same piece also suggests that 'barring an unlikely last-minute demand by Hungary, which has been dragging its feet, the process should be completed without requiring an E.U. leaders’ meeting.'
  • It is understood that Russian oil will be phased out over a period of months, a condition requested by German Chancellor Olaf Scholz.