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European Commission met resistance to declare oil embargo on Russia

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European Commission met resistance to declare oil embargo on Russia

BRUSSELS, MAY 6 (ANSA) – The European Commission is reportedly having difficulty in reaching agreement on the sixth package of sanctions against Russia due to Hungary’s invasion of Ukraine due to blocking the gradual embargo on Russian oil.

Despite the European Commission’s “general agreement on the sixth package of sanctions” against Russia and the political will to approve it, 27 member states have yet to find the right balance in the agreement, according to European sources.

According to reports, there is “resistance” to the Russian oil embargo in the talks.

Hungarian Prime Minister Viktor Orban said in a radio interview that the European Commission’s proposal to drastically reduce Russian oil imports had crossed the “red line”.

The project provides for the suspension of oil imports from Russia within six months and the import of refined products until the end of the year. The country’s largest bank, Sberbank Ursula von der Leyen, will also be penalized and excluded from the Swift system, according to the President of the European Commission.

The Permanent Representatives will meet again next weekend, hoping to approve the package before Monday. Adoption of EU sanctions requires unanimous adoption by member states.

source: Noticias

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