EU Greenlights Embargo On Seaborne Russian Oil

European Union ambassadors approved on Thursday the proposed partial ban on Russian oil imports into the EU as part of a sanctions package that also aims to cut Russia off the tanker insurance market and limit its ability to redirect seaborne oil exports to third countries. After weeks of negotiations, the EU leaders clinched a deal late on Monday to ban Russian oil imports via sea by the end of the year. For weeks, Hungary had blocked a decision on an embargo after the European Commission proposed a full ban by the end of the year on all Russian…