The European Commission has proposed changes to its plan to ban Russian oil in an effort to gain support from rival countries, according to Reuters.
The revised proposal will include a three-month transition period before imposing a ban on maritime transport services for the transportation of Russian oil, instead of a one-month deadline that was previously proposed.
The proposal also includes increased investment to modernize oil infrastructure to mitigate the impact of sanctions on Russian energy in EU countries, as well as putting an end to Hungary, Slovakia and the Czech Republic before forcing them to ban Russian oil. .
On Wednesday, the European Commission revealed a new sanctions package against Russia that includes a ban on Russian oil imports by the end of the year and the exclusion of Russian banks from the international SWIFT system, as well as proposing the launch of a package aid for the recovery of Ukraine.
Commission President Ursula von der Leyen said EU countries will stop importing Russian oil and refined products, as part of a sixth sanctions package against Moscow for the war in Ukraine.
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