EU edges towards oil sanctions on Russia, no deal yet -Breaking
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© Reuters. FILEPHOTO: This illustration was taken March 8th, 2022. It shows models of oil barrels as well as a pump-jack in front the flag colours of Russia and EU. REUTERS/Dado Ruvic/Illustration/File PhotoBRUSSELS (Reuters). Despite moving closer to imposing tough sanctions against Russia, the European Union government scheduled further talks Monday to determine how Russia can help countries most dependent on Russian fuel.
Since May 4, when the European Commission proposed a sixth package of sanctions against Moscow for its invasion of Ukraine, the ambassadors from the 27 EU member countries met daily to discuss the details.
The statement by the French presidency of the EU/Commission stated that “the Council (of EU government) agrees on the necessity to adopt a sixth sanctions package.” “Very important progress was made with regard to most of these measures.”
Problem is how to ensure oil supply to the Czech Republic and Slovakia, both landlocked countries. They all depend on Russian crude, delivered through Soviet-era pipelines.
According to the joint statement, “We have yet to finish, in solidarity, those guarantees that are essential for oil supply conditions in the Member States currently in a very special situation regarding supply by pipeline Russia,”
The Commission suggested Friday changes to the planned Russian oil embargo to allow the EU member countries to move their supplies more quickly, EU sources stated.
The initial plan called for all EU nations to stop purchasing Russian crude oil within six months, and Russian refined products before the end of 2011.
This proposal, with some modifications to it, would allow Hungary and Slovakia to help upgrade their oil processing facilities to make oil from other sources and to delay the Russian exit to 2024.
One source said that there would be a 3-month transition period before the ban on EU shipping services transporting Russian oil. This is to resolve concerns expressed by Greece, Malta, and Cyprus regarding their shipping companies.
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