Wakeup call: UK, US oil embargoes

Wakeup call: UK, US oil embargoes
Ukrainian president Vylodymyr Zelensky addressed the UK Parliament by video last night. (Image: Getty)
Bernard Hickey
Oil embargoes – The United States and Britain are pushing ahead independently of Europe to ban imports of Russian oil, gas and coal to their countries. Germany said yesterday it couldn’t ban imports because the gas was “essential to life”, but US President Joe Biden and UK prime minister Boris Johnson announced their bans overnight. Brent crude futures prices firmed to US$126/barrel (NZ$184) and European gas prices gyrated wildly after Russia threatened to cut its supplies to Europe in retaliation for financial and trade...

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