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Europe tries to agree on a Russian oil embargo

The leaders of the member states of the European Union have just begun an extraordinary summit in Brussels. The European summit’s agenda includes support for Ukraine, defense and energy cooperation among member states, and food security. However, the oil embargo from Russia is really a hot topic, European countries have yet to find a common voice.

Persuading Hungary to embargo on Russian oil is really the main issue of this European Summit. Hungary is the only one of the 27 European Union member states that still does not agree to stop importing oil from Russia.

Europe tries to agree on a Russian oil embargo - Photo 1.

The European Union has to import both oil and gas from Russia, but with oil, the level of dependence is lower, so it intends to embargo Russian oil after 6 months. The overwhelming majority of member countries agree to this option. Hungary alone opposes, arguing that other energy sources are not enough to compensate, converting Russia’s oil refining process to another type of oil cannot be fast and the cost is too high if it wants to change the structure. energy.

Hungary, like Slovakia and the Czech Republic, has no sea, so it cannot receive oil tankers like other European countries, but is forced to use oil pipelines. One option is to temporarily remove this pipeline network from the embargo. The extraordinary European summit will have to find consensus in two days of meetings here.

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