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

Newsquawk StaffOil newsPublished 23 Apr 2026, 14:12 UTC

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13:52

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

13:45

US S&P Global Composite PMI Flash (Apr) 52.0 (Prev. 50.3, Low. 50.2, High. 51.2); "The overall inflation picture is now the most worrying for almost four years."

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US S&P Global Services PMI Flash (Apr) 51.3 vs. Exp. 50.1 (Prev. 49.8, Low. 49.3, High. 53)

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Context

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.

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