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U.S., EU Are Looking at Ways to Slash Putin's Oil Money

  • Europeans weigh import ban or mechanisms to hit revenue
  • EU members still to reach consensus on sixth sanctions package
Bloomberg business news
Can Sanctions Really Stop Putin's War?

U.S. officials and the European Union are in talks over steps the EU could take to restrict oil imports from Russia and cut the income that Moscow makes from sales, according to people familiar with the matter.

The options discussed include a ban, a price cap and a payment mechanism to withhold revenue that Russia’s generated since the start of the war in Ukraine, said the people, who asked not to be identified because the conversations are private.