Despite a warning of retaliation from Russia, the European Union (EU) has decided to proceed with sanctions against Russia. The sanctions are expected to be adopted within the coming days.

A spokeswoman for the EU ensured that the sanctions would be “reversible” depending on Russia’s handling of the situation in Ukraine. According to BBC News, major state-owned oil firms are included on the EU sanctions list. In retaliation, Russia has threated to block international flights through its airspace.

BBC economic correspondent, Andrew Walker, reports that about 90% of the crude oil used in the EU is imported and Russia, by a large margin, is the biggest supplier.

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