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Lebanon's central bank said it has entirely ceased providing dollars for gasoline imports in a move that will likely lead to higher and more volatile prices as well as increased pressure on the local currency which has been steadily losing value.

Lebanon Central Bank Stops Providing Dollars For Gasoline Imports

The ban on seaborne imports of Russian oil will be imposed with a phase-in period of six months for crude oil and eight months for refined products, a European Commission spokesperson said.

EU Agrees Russian Oil Sanctions, Gives Hungary Exemptions

EU Council President Charles Michel said, the European Union leaders agreed on Monday to ban the export of Russian oil to the 27-nation bloc.

EU Leaders Agree To Ban Export Of Russian Oil To The Bloc: EU Council President

Crude oil imports increased by about 9.7% from March and were up about 14.3% from a year earlier at 20.87 million tonnes, the highest since October 2018, according to Petroleum Planning and Analysis Cell data on Friday.

India's April Crude Oil Imports At 3-1/2 Year High On Cheap Russia Supply

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