EU leaders agree on partial embargo on oil imports from Russia

Meeting on May 30, European Union leaders agreed that the sixth package of sanctions against Russia will cover crude oil, as well as petroleum products, delivered from Russia into member states, with a temporary exception for crude oil delivered by pipeline, a statement after the first day of the European Council said.

The European Council will revert to the issue of the temporary exception for crude oil delivered by pipeline as soon as possible, the statement said.

“The European Council therefore urges the Council to finalise and adopt it without delay, ensuring a well-functioning EU Single Market, fair competition, solidarity among Member States and a level playing field also with regard to the phasing out of our dependency on Russian fossil fuels.”

In case of sudden interruptions of supply, emergency measures will be introduced to ensure security of supply, the statement said.

In this respect, the Commission will monitor and report regularly to the Council on the implementation of these measures to ensure a level playing field in the EU Single Market and security of supply.

The derogation was requested by Hungary, which blocked the sixth package of sanctions for a month. The decision will affect 75 per cent of Russian oil supplies and, by the end of the year, 90 per cent of its imports into Europe, European Council President Charles Michel said.

The Council of the EU must now finalise the ban, European Commission President Ursula von der Leyen said.

She gave an assurance that Brussels would soon consider the issue of the remaining 10 percent of Russian oil.

Ahead of the May 30 meeting, the first of a two-day European Council special summit, Bulgarian Prime Minister Kiril Petkov said that his country wanted to be able to receive Russian oil up to December 2024, for technical reasons related to oil refinery capabilities, and because it was crucial to Bulgaria’s energy security.

(Photo: European Council)

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