New York Times: EU moving towards adopting a phased in ban on Russian oil

According to the NY Times:European Union officials are drafting the most contested measure yet to punish Russia for its invasion of Ukraine, an embargo on Russian oil products.EU is looking to adapt a phased in band designed to give Germany and other countries time to arrange alternative suppliersthe oil embargo would not be put up for negotiation among EU member states until after the final round of the French election'sthere was a growing sense that the measure would be taken even in absence of more revelations like the atrocities in BuchaAny other major catastrophes that unfold will just add more impetus to the E.U. responseThe EU is under pressure by allies to stop providing needed revenues to Russia the oil purchases. The price of WTI crude oil futures are trading at $103.72. That is down around -$0.54 on the day. The high price reached $104.33. The low was at $102.12. The low price for the week extended down to $93.05 on Monday before rising two a high of $104.47 yesterday.CLICK HERE for the story/EURUSD