The EU wants to suspend Russian oil imports for six months

The European Union continues to impose new sanctions on Russia. According to the Thye Wall Street Journal, the EU intends to suspend Russian oil imports for six months as part of sanctions.

"The sixth package of sanctions will be submitted on May 4 after approval by the EU", the statement said. The decision will halt Russian oil imports for six months. The process of completely abandoning the purchase of oil products will be completed by the end of 2022.

Private oil refineries in China have also stepped up their purchases of Russian oil, according to the Financial Times.