European stocks are seen opening higher on Wednesday after U.S. President Joe Biden announced a ban on U.S imports of Russian oil in consultation with European allies, who rely heavily more heavily than the U.S. on Russian energy.
The U.K. said it would phase out the import of Russian oil and oil products by the end of 2022. The EU didn't follow suit and said the bloc could become fully independent of Russian gas, oil and coal by 2030.
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