Two-thirds of Russian oil imported by the European Union comes via tanker and a third by the Druzhba pipeline. Therefore the ban on marine oil imports will apply to 2/3 of all oil imported from Russia.
see photosEuropean Commission President Ursula von der Leyen arrives for EU leaders’ summit
EU leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the end of this year, with Hungary on the bloc’s toughest approval since Ukraine’s invasion of Moscow three months ago. deadlock resolved.
Diplomats said the deal would clear the way for other elements of the sixth package of EU sanctions on Russia to take effect, including cutting Russia’s biggest bank, Sberbank, from the SWIFT messaging system.
“Agreement to ban Russian oil exports to the EU,” European Council President Charles Michel said in a tweet at the end of the first day of a two-day summit of the bloc’s 27 leaders.
“This immediately covers more than 2/3 of the oil imports from Russia, cutting off a major source of financing for its war machine. Maximum pressure on Russia to end the war,” he said.
Two-thirds of Russian oil imported by the European Union comes via tanker and a third by the Druzhba pipeline. Therefore the ban on marine oil imports will apply to 2/3 of all oil imported from Russia.
Once Poland and Germany, which are linked by the pipeline, stop buying it by the end of the year, the embargo will cover 90% of all imports from Russia.
The remaining 10% will be temporarily exempted from the ban so that landlocked Hungary, which was the main holdout for a deal, along with Slovakia and the Czech Republic, all of which are connected by the southern leg of the pipeline, have access that it does not. Can be changed easily.
Budapest appears to have also received assurances from other leaders that the emergency measure follows concerns raised by Prime Minister Viktor Orban about the risks posed by the Russian oil pipeline running from Ukraine to Hungary. In this case” will be applicable.
The ban on oil imports into EU countries will apply to Russian crude that is delivered by shipment.
It was not immediately clear how member states receiving oil from tankers would be compensated for the higher costs compared to those keeping pipelines open.
Zelinsky betrays EU leaders
Earlier, Ukrainian President Volodymyr Zelensky in a video address rebuked EU leaders for being too soft on Moscow as a deal on an oil embargo still appeared elusive.
“Why do you depend on Russia, on their pressure, and not vice versa? Russia should depend on you. Why can Russia still earn about a billion euros a day by selling energy?” Zelensky said.
The EU has launched five rounds of sanctions since it invaded Ukraine in February, a display of uncharacteristic speed and unity given the complexity of the measures.
But bargaining over an oil import embargo highlighted the struggle to widen sanctions as economic risks to Europe mount, as so many countries depend on Russian crude.
Dutch Prime Minister Mark Root left the Brussels talks, saying he was surprised by the turn of events.
“Early in the evening I was not at all hopeful, but after 11 pm or so, it is done,” he said, adding that the technical details are still unresolved, should not be difficult.
The summit also brought political support for a package of 9 billion euros ($9.7 billion) of EU loans, with a small component of a grant to cover part of the interest, to help Ukraine keep its government running. And to pay wages for about two months.
The leaders also supported the creation of an international fund for post-war Ukraine reconstruction, the details of which would be decided later.
On Tuesday, leaders will pledge to expedite work to help Ukraine move its grain out of the country by rail and truck to global buyers as the Russian Navy is blocking normal sea routes, and from Russian energy. Taking steps to become independent more quickly.
(Editing by Leslie Adler)
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