Pelosi: Russian Oil Funds Invasion of Ukraine

Nancy Pelosi, Speaker of the US House of Representatives, said on Monday, that the countries that bought oil from Russia - including US and some European countries - actually contributed to funding the invasion of Ukraine.

During her speech at the opening session of the Aspen Ideas: Climate 2022 in Miami Beach, Pelosi added that the Russian attack on Ukraine has made the idea of energy independence more important than ever.

The European Union (EU) has not yet reached an agreement on the Russian oil embargo, according to a European source.

Oil prices jumped in global markets by about 4% after the EU Commission revealed its intention to impose new sanctions on Russia, including a Russian oil embargo.

Earlier, Austrian President Alexander Van der Bellen stressed the importance of having a lasting impact on the measures taken to curb the growing wave of inflation in the country due to the Russian-Ukrainian crisis.

In press remarks, he stressed that his country is closely following up on the developments of the current situation in Ukraine and the EU’s intention to impose further sanctions on Russia.