The proposed sanctions on oil imports are part of the EU’s sixth sanctions package on Russia over its invasion of Ukraine.
Officials said the European Union failed to agree on a ban on Russian oil on Sunday, but diplomats tried to make progress ahead of a Monday-Tuesday summit on exemptions for pipeline delivery to Central European countries. However, a senior EU diplomat said “there are still too many details to be resolved” for hopes of an agreement before EU leaders gather in Brussels on Monday afternoon. The proposed sanctions on oil imports are part of the EU’s sixth sanctions package on Russia over its invasion of Ukraine.
The package includes separating Russia’s largest bank, Sberbank, from the SWIFT messaging system, banning Russian broadcasters from the EU and adding more people to the list of individuals whose assets are frozen and who cannot enter the EU. can.
The entire package has been withheld by Hungary, which says an oil embargo would be a major blow to its economy as it cannot easily get oil from elsewhere. Slovakia and the Czech Republic have expressed similar concerns.
Negotiations on the oil embargo have been going on for a month and no progress has been made and leaders were keen to reach an agreement for their summit to avoid appearing dissatisfied in their response to Moscow.
To break the impasse, the European Commission proposed that the ban applied only to Russian oil brought into the EU by tankers, with the exception of Hungary, Slovakia and Czechia receiving their Russian oil via the Russian Druzhba pipeline for the time being. There may be alternative supplies to continue. Organized.
Budapest supports the proposal, but talks on EU funding on Sunday said Hungary wants to boost oil pipeline capacity from Croatia and convert its refineries from Russian Ural crude to Brent crude, officials said. he said.
EU envoys will discuss how to ensure fair competition on Monday morning, as the sanctions will result in higher prices for member states dependent on shipped Brent crude.
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