U.K. to Ban All Russian Oil Imports

Linking arms with the United States, the United Kingdom will reportedly ban all imports of Russian oil.

The ban will be phased in over several months and will not apply to natural gas. The U.S. ban is expected to apply to oil, natural gas and coal, but whether it will be immediate or phased-in is not clear.

Europe is much more dependent than the U.S. upon Russia for natural gas and is struggling to find alternatives to replace Putin’s chief revenue source.

In response, Russia is threatening to shut off gas exports to the EU via the Nord Stream 1 pipeline under the Baltic Sea.

this is a developing story and may be updated.