The EU Council confirmed that the introduction of a ban on Russian oil supply by European companies has been postponed, Tass reports; the EU introduces a quota on ammonia imports

The postponement of the ban on Russian oil supply reflects a complex geopolitical landscape, potentially easing immediate pressure on global oil prices. By introducing a quota on ammonia imports instead, the EU is likely trying to balance energy security concerns with its broader sanctions strategy, which may have implications for energy-related currencies and commodities, especially in the context of current inflationary pressures.