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EU seeks oil deal with Azerbaijan as euro drops below dollar amid soaring inflation
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The European Union is reportedly seeking an oil deal with Azerbaijan as it attempts to distance itself from Russia amid its war in Ukraine.
The European Commission, the executive arm of the EU, has proposed a plan to member nations that would aid the continental alliance by increasing natural gas imports as well as supporting the expansion of an existing pipeline, first reported Reuters after it obtained draft documents of the plan.
The plan would not only help the EU as it aims to cut Russian oil dependence by 90 percent by the end of 2022 but could help Europe amid a record high inflation rate.