EU leaders seek a political solution to the Russian oil embargo

Breaknlinks
Photo: Anadolu Agency

EU leaders attempt to get a political agreement about the imposition of a partial ban on Russian oil imports on Monday, an EU official said before the summit's opening.

Under anonymity, an EU official told EU reporters that European heads of state and government hope to find a political consensus on the bloc's sixth sanctions package against Russia at their extraordinary summit.

After over a month of deadlocked negotiations between EU member states that have been divided by the oil embargo, the source suggests a breakthrough.

EU ambassadors could not establish a consensus on the sanctions package over the weekend. They reconvened on Monday morning in a last-ditch effort to strike an accord before the beginning of the EU meeting.

In recent weeks, Slovakia, the Czech Republic, and Bulgaria, significantly dependent on Russian energy, have voiced worries over the draft. Still, Hungary has been the most outspoken and adamant in its opposition to the oil embargo.

Per the country's most recent demands, the new version of the sanctions package would provide a significant concession to Hungary by exempting pipeline oil imports from restrictive measures.

According to an EU source, the oil embargo would "cover more than two-thirds of oil imports from Russia, such as seaborne oil," and would allow "some temporary exceptions" to certain nations "to ensure supply security."

The official confirmed that the sanctions package would also exclude new Russian banks from the international SWIFT payment system, ban three new Russian state-owned media outlets from broadcasting in the EU, and impose a travel ban and asset freeze on individuals who committed war crimes in Ukraine.

EU leaders convene for a special two-day meeting in Brussels to discuss the bloc's support for Ukraine, energy, food security, and European defense reforms.

Since the battle began on February 24, the EU has allocated €2 billion ($2.13 billion) in military aid to Ukraine and mobilized €4 billion in macro-financial assistance, humanitarian assistance, and support to EU nations hosting Ukrainian refugees.

It has also adopted five sets of sanctions against Russia, including measures against individuals such as Russian President Vladimir Putin and Foreign Minister Sergey Lavrov, prohibiting the export of luxury goods and coal imports and barring Russian and Belarusian banks from using the SWIFT system.

Publish : 2022-05-30 19:48:00

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