EU cannot ban Russian oil yet
Measures punish Russia of the EU is likely not to include the Russian oil ban when it is reported that Hungary is blocking this plan of the bloc.
The EU’s 6th round of sanctions against Russia after Russia’s campaign in Ukraine likely not including the oil embargo, international media cited multiple sources from the EU.
According to Bloomberg, EU countries are still working to agree on a full sanctions package, and some member states think the decision to embargo Russia’s oil should be postponed.
The representative of Hungary, emphasized that the command Russian oil embargo will have serious consequences for the country’s economy. Hungarian Prime Minister Viktor Orban recently noted that any option with an oil embargo should be discussed at a summit of EU leaders.
EU High Commissioner for Foreign Policy Josep Borrell announced on May 13 that work on the Russian oil ban has so far not yielded any results.
“If there is no deal at the ambassadorial level, then on Monday (May 16), when the ministers assemble, the ministers have to provide the political push… I am sure we will have an agreement. We need it and will have it. We have to get rid of our dependence on oil from Russia,” Borrell said.
EU sanctions require the consent of all 27 member states, but ambassadors failed to reach an agreement on the package on May 13. The EU’s 6th package of sanctions against Russia includes a draft oil embargo.
The European Commission (EC) proposes an import ban Russian crude oil 6 months after the entry into force of the 6th package of sanctions, and to ban the import of Russian oil products from 2023. At the same time, the EC proposes to allow Hungary and Slovakia, which are highly dependent countries. into Russian oil, will buy oil from Moscow until the end of 2024.
However, according to the sources, the EC had to review several proposals on the timing of the implementation of the Russian oil embargo, the technical parameters and the exceptions.
Hungary opposes the ban on Russian oil imports. Prime Minister Orban considered this embargo as a “nuclear bomb” for the Hungarian economy. Budapest is supported by a number of other EU countries, who believe that this sanctions will lead to dire consequences for the bloc.
According to Politico, in order to convince Budapest, the EC has drawn up a plan to offer financial compensation to Hungary if it signs the proposed Russian oil embargo. The money could be “directed to Budapest as part of the bloc’s new energy strategy, due next week, to end Russia’s dependence on fossil fuels,” said three EU officials. “.
In addition to the oil of Russia, the new EU sanctions package is said to target three other Russian banks. These banks will be cut off from the SWIFT international payment system. EU foreign ministers are expected to discuss a package of sanctions against Russia on May 16.
at Blogtuan.info – Source: laodong.vn – Read the original article here