Yellen Warns EU About Banning Russian Oil

A full EU ban on Russian crude oil and gas imports could have unintended economic consequences for the United States and its Western allies, U.S. Treasury Secretary Janet Yellen told reporters in Washington on Thursday. The Treasury Secretary added that such a ban could do more harm than good. Europe does need to reduce its dependence on Russian oil and gas, Yellen said, “but we need to be careful when we think about a complete European ban on, say, oil imports.” Europe has been under pressure to stop purchases of Russian oil and gas—an…