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Annie Gugliotta

A guide to the EU’s lukewarm Russian oil embargo

After months of diplomatic wrangling, it seemed this week like the European Union had finally made a big breakthrough in its effort to punish President Vladimir Putin for attacking Ukraine. Oil prices soared, and gas hit new highs after Brussels 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 and caveats that could dilute the bloc’s effort to decapitate the Kremlin’s war machine.

What’s in the deal?

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Unpacking Lithuania's Energy Independence Strategy | Gintarė Skaistė | Global Stage | GZERO Media

Unpacking Lithuania's energy independence strategy

Over the past two years, Lithuania's economy was hit hard first by COVID, then by the Belarusian migrant crisis, and finally high energy prices late last year.

But now it's proving more resilient than others to the effects of the Russian invasion of Ukraine. Why? Mostly because they prepared for it, Lithuania's Finance Minister Gintarė Skaistė tells Eurasia Group's Shari Friedman in a GlobalStage conversation.

Indeed, the Baltic nation recently grabbed headlines when it became the first EU member state to stop buying Russian oil and natural gas.

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US Ban on Russian Oil Imports Could Make NATO Alliance Look Weaker | World In :60 | GZERO Media

US ban on Russian oil imports not coordinated with NATO allies

What are the ramifications of the US ban on Russian oil imports? Are there any surprises on Russia's released list of unfriendly countries? Also, is President Xi facing a hard wartime choice for China? Ian Bremmer shares his insights on global politics this week on World In :60.

First of all, what are the ramifications of the US ban on Russian oil imports?

A couple of things. First of all, the United States doesn't really get much oil at all from Russia. Oil product is a different story. Interesting to see where exactly that lands but it's definitely a significant message from the United States. Last week, the Americans weren't planning on that but given a lot of domestic pressure, including from Congress, the Biden administration decided to move on it. One problem I see is that this was not well coordinated with the Europeans, almost every other message so far in response to the Russian invasion of Ukraine has been incredibly strong coordination between the Americans and the NATO allies. That is not the case here. And I think that is a challenge. The Europeans are not going to be willing or able to go nearly as far as the Americans because they have a hell of a lot more to lose and that potentially makes the NATO alliance look a little bit weaker on this issue. They're going to need to communicate well on it.

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