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EU May Put Off Russian Oil Embargo Due to Hungarian Opposition

Some EU member states are already suggesting that new sanctions on Russian oil be postponed due to Hungarian opposition, and that other punitive measures against Russia be set up in the meantime, writes Bloomberg. Implementing any sanctions requires the consent of all 27 Member States.

Hungary argues that the move would do too much damage to the economy, making the idea of postponing the oil export ban increasingly popular. However, a diplomat claims that some countries are worried that putting off an oil embargo would be a sign of weakness.

The EU wants a ban on the purchase of Russian oil in Member States within the next six months, and on refined petroleum products by early January next year.

However, states heavily dependent on Russian oil would get a temporary exemption from the ban: the Czech Republic would be exempt until June 2024, while Hungary and Slovakia would receive an exemption until the end of the year.

The article states the President of the European Commission, Ursula von der Leyen, would have a video call with Viktor Orbán and other leaders in the region, but that it had been postponed and no new date has been set for it yet. [Magyar Hang]

Posted in European Union

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