May 4, 2022

WSJ learned about the timing of the EU’s refusal of Russian oil under new sanctions

By Azlyrics

According to the sources of the newspaper, the EU, within the framework of the sixth sanctions package, will fix the refusal to purchase Russian oil within six months. At the same time, an exception will be made for Hungary and Slovakia

As part of the sixth package of sanctions, the European Union will fix the refusal to purchase Russian oil for six months and the cessation of imports of petroleum products by the end of the year, The Wall Street Journal writes, citing two informed officials.

“The centerpiece of the package is a proposal that the bloc's member countries stop importing Russian crude oil within six months and not buy more Russian oil products by the end of this year, — said in the publication.

At the same time, according to the sources of the newspaper, Hungary and Slovakia will receive 20 months to refuse oil imports from Russia. The WSJ interlocutors added that at least two other countries, the Czech Republic and Bulgaria, are claiming the same benefits.

At the same time, European Commissioner for Energy Kadri Simson said that a new package of EU sanctions against Russia may be announced as early as May 4, Reuters reports. She also clarified that possible alternative energy supply routes for each of the EU countries are “already outlined.”

Since the beginning of the Russian military special operation in Ukraine, the European Union has already introduced five packages of sanctions against Russia. The latter was approved in early April and includes, among other things, a ban on the purchase, import or transit of coal and other solid fossil fuels from Russia. In mid-April, the head of the European Commission, Ursula von der Leyen, announced the work on the sixth package, within which Brussels is considering the possibility of an embargo on Russian oil.

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Earlier that the EC under the new sanctions may allow Hungary and Slovakia to import Russian oil, Reuters reported citing two representatives of the European Union. According to one of them, the European Commission can either allow these countries not to join the embargo, or offer them a long transition period. At the same time, German Economy Minister Robert Habeck expressed the country's readiness to support the embargo on Russian oil. At the same time, Germany “will take more time to become independent of natural gas imports,” the German authorities said.

world markets is 20%. According to him, in the event of a ban on Russian hydrocarbons, oil prices will jump to $ 300 & ndash; 500 per barrel, so Europe's refusal of energy from Russia is unlikely.

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