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Europe Can Endure Painful Transition to Live Without Russian Oil

  • Halt of Russian oil, coal imports would be viable, study shows
  • EU should start planning to reduce oil demand, Bruegel says
A crude oil processing facility in Nizhnekamsk, Russia.

A crude oil processing facility in Nizhnekamsk, Russia.

Source: Bloomberg

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The European Union would endure a short and painful transition if it halted Russian oil and coal imports, but with the help of its international partners the bloc could end its dependence on Moscow, a new study shows.