What's the impact if Europe stops buying Russian oil?

Europe is struggling to find ways to stop paying Russia $850 million a day for energy and hit the Kremlin's finances over its invasion of Ukraine. Leaders of the 27-member European Union are finding that reversing decades of dependence on Russian oil and natural gas is not a simple matter.

The EU is now discussing sanctions on Russian oil, including a possible boycott. Here is what such a move could mean for people in Europe and the rest of the world: