The Week in Review: May 28-June 3, 2022

The European Union settles on a plan for its Russian oil embargo, an eleventh-hour renewal of the Yemeni ceasefire, and more

This week, the European Union agreed on an embargo that would block at least two-thirds of Russian oil exports to Europe. OPEC+ resolved to crank up global oil production through July and August. Yemeni rebels and pro-government forces agreed to renew their existing ceasefire. And Taiwan struck separate trade agreements with both the US and the EU.