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A guide to the EU’s lukewarm Russian oil embargo
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A guide to the EU’s lukewarm Russian oil embargo

After months of diplomatic wrangling, the European Union announced that it had reached an agreement to phase out Russian oil imports by the end of the year. But the agreement also includes a slate of carve-outs that could dilute the bloc’s effort to decapitate the Kremlin’s war machine.

Ukrainian President Volodymyr Zelenskiy speaks in Russian during an address in Kyiv, Ukraine, February 24, 2022 in this still image taken from video.
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What We're Watching: Zelensky stays put as EU, US sanction Putin & Biden Supreme Court nominee makes history

As Russian forces entered the Ukrainian capital of Kyiv on Friday, the US, Canada, and the EU said they would freeze the assets of Russian President Vladimir Putin and his foreign minister, Sergey Lavrov. British Prime Minister Boris Johnson had earlier announced a similar move. Though most analysts say that Putin has used fronts to shield his personal wealth from measures like this, the move marks a significant symbolic escalation and further isolates the Kremlin from the international community.