Oil price will remain high for a long time and even rise after sanctions package

Now that the European Commission has decided to stop importing oil from Russia at least before the end of this year, pump prices will remain high for a while. According to energy specialist Hans van Cleef of ABN AMRO, they will even rise sharply. “But that does not make the sanctions counterproductive: they help us to be less dependent on Russia,” he tells NU.nl

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