Loss of Russian Oil Leaves a Void Not Easily Filled, Straining Market

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Wednesday, March 9, 2022

Britain said Tuesday that it would phase out Russian oil imports by the end of the year, and other European countries — far more dependent than the United States on those supplies — are under pressure to take similar action. International banks, shippers and insurance companies are balking at deals with Russia. BP, Shell and Exxon Mobil have decided to suspend big operations there.

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