New EU sanctions include an embargo on Russian oil. However, a ban on insurance for oil tankers will likely have a much greater impact and raises questions if Russian oil could be shipped across the Arctic without insurance.
German Chancellor Olaf Scholz said the decision sent a "strong signal of unity." However, the compromise took almost a month to reach, on a gradual ban that will not apply to pipeline imports.
The effort to ban shipments of Russian oil while boosting U.S. deployment of clean energy could face long odds amid soaring gas prices for American consumers.
