The EU’s sixth sanctions package on Russia, combined with existing plans, implies an end to over 90 percent of Russian oil sales to the EU by the end of 2022. EU sanctions on Russian oil will sustain current inflationary pressures, though exemptions and the potential for piecemeal enforcement could weaken their impact. That’s according to a report from Fitch Solutions Country Risk & Industry research sent to Rigzone earlier this month, which outlined that the EU’s sixth sanctions package on Russia, combined with existing plans, implies an end to over 90 percent of Russian oil sales to the EU by the end of 2022. The report noted that this will further constrain energy supply, sustaining inflationary pressures in Europe. It added however, that the latest sanctions include multiple exemptions, grace periods, and caveats. “For example, Hungary will still be permitted to purchase Russian oil via tankers in the event […]