News Analysis: EU's proposed ban on Russian oil imports to have limited impact

ROME, May 4 (Xinhua) -- European Commission President Ursula von der Leyen said on Wednesday that the European Union (EU) will phase out Russian supply of crude oil within six months and refined products by the end of the year. However, Italy-based analysts said the move -- if adopted -- would likely have limited impacts in Europe and Russia.

Von der Leyen's proposal did not address natural gas imports. The EU is the largest market for Russian natural gas exports, on which two of its largest economies -- Germany and Italy -- are highly dependent. France, the EU's second largest economy, derives most of its electricity from nuclear power.