Russia Could Lose Half Of Its Revenue If EU Agrees On A Full Oil Embargo

The oil embargo that the European Union is planning to impose on Russia has become the news of the month. And it has not been finalized yet, with little likelihood that it will be finalized anytime soon—at least in the form Ukraine wants it. Because the EU gets a quarter of its oil from Russia. The European Union, along with the United States, unleashed a barrage of sanctions against Russia following its invasion of Ukraine. While Russia's oil and gas industry has been an obvious target for sanctions, just as it was in Iran and Venezuela,…