EU member states plan to begin buying liquefied natural gas cargoes, jointly as a bloc, instead of as individual countries. Following a formal deal signing later this week, the bloc will outline rules for the collective purchases, which aim to end reliance on Russian suppliers. The bloc is also discussing a ban on Russian oil imports, following similar restrictions by the US and the UK.

CMarkits CEO, Yousef Alshammari joined us for details.

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