Reuters learned that the EU will allow Hungary and Slovakia to import Russian oil

At the same time, ZDF sources reported that Austria,Hungary and Slovakia withdraw their veto power on EU embargo on Russian oil

The European Commission (EC) may allow Hungary and Slovakia not to impose a ban on the supply of Russian oil as part of the next package of sanctions. it is reported by REUTERS with reference to two representatives of the European Union.

According to one of the interlocutors of the agency, the European Commission, in order to “preserve the unity of the bloc”, can either allow Hungary and Slovakia not to join the oil embargo against RUSSIA, or offer these countries a long transition period for abandoning Russian oil.

The sources also clarified that the ban on oil supplies from Russia is likely to be introduced in stages and will come into force only at the beginning of next year. Reuters recalled that the sixth package of sanctions against Russia could be presented as early as Wednesday, May 4.

According to the International Energy Agency for 2021, Slovakia and Hungary depended on imports of petroleum products from Russia by 96% and 58% respectively.

Earlier on May 2, ZDF TV sources reported that Austria, Hungary and Slovakia had withdrawn their veto on the EU embargo on Russian oil. In addition, according to the channel, Spain, Italy and Greece also oppose the embargo.

NYT announced the timing of the EU decision on the embargo on Russian oil Politics

After the start of the Russian military special operation in Ukraine, Western countries, including the European Union, imposed several packages of sanctions against Moscow. As part of the fifth package, the EU banned the import and transit of coal from Russia, and also expanded the ban on the import of petrochemical equipment, including for LNG projects. Sanctions did not directly affect the import of oil and gas .

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The fact that the European Commission is preparing the sixth package of sanctions against Russia, which implies restrictions on the oil sector, was said in mid-April by the HEAD of the EC, Ursula von der Leyen. According to The New York Times sources, a phased embargo on Russian oil will be introduced as early as this week.

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In total, the EU is considering three possible scenarios for Russian oil, sources told Bloomberg: an embargo, setting a cap price, and creating a “payment mechanism to retain the proceeds” that Moscow has received since the start of a military special operation against Kyiv.

The Russian Ministry of Finance previously warned that oil production in Russia this year could fall by 17%, and it is still difficult to predict the fate of energy sales from Russia. Will there be a decrease in production? Will be. In what volumes: 17%, a little less or a little more - perhaps, ”said Anton Siluanov, head of the ministry.

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