According to Bloomberg, Hungary continues to block EU proposal to ban Russian oil imports, delaying sixth sanctions package during Putin’s war in Ukraine.
The sources say that the meeting of the 27 EU ambassadors ended on Sunday without an agreement and that talks should resume in the coming days.
The EU proposal aims to ban crude oil for the next six months and refined fuels by early January. The European Union had offered Hungary and Slovakia a deadline until the end of 2024 to comply with the sanctions and the Czech Republic until June of the same year due to their heavy dependence on Russian crude.
Sources said the waiver failed to convince Hungary, which continued to block the oil embargo plan and how to finance the transition from Russian energy on Sunday.
On the other hand, both Cyprus and Greece have refused to prevent companies from providing services to Russian ships carrying goods.
The European Union pressed for sanctions to be finalized by 9 May, in occasion of the Russian commemoration of the end of the Second World War.
The measures will increase pressure on Moscow because the European Union is the largest single consumer of crude oil and fuel from Russia, as the European bloc imported nearly two-thirds of its crude oil from Russia in 2019.
Leaders of the Group of Seven Nations will also hold a video call later in the day to discuss the war in Ukraine.
Under the EU plan released in member states last week, European companies and individuals will also be banned from providing ships and services, such as insurance, needed to transport Russian oil. in third countries. The measures will come in in force within three months.
The European Union also proposes to exclude three other Russian banks from the SWIFT international payment system, including the largest Russian bank Sberbank, to prohibit Russian individuals and individuals from buying real estate in the European Union, as well as to prohibit the provision of consulting services to Russian companies and trading of a range of chemicals.
In addition, dozens of military personnel will be sanctioned, including those held responsible for the war crimes reported in Bucha, as well as companies that provide equipment, supplies and services to the Russian military.
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