09:55 Brussels lowers sanctions package to get critical EU countries on board

09:55 Brussels lowers sanctions package to get critical EU countries on board

The news agency writes that the European Commission wants to give Hungary and Slovakia an extra year by the end of 2024 to get rid of Russian oil. Reuters based on insiders. According to these plans, the Czech Republic will have another six months. With these concessions, Brussels hopes to persuade countries to join the sixth package of sanctions against Russia.

On Wednesday, the European Commission – the executive committee of the EU – proposed, among other things, to stop imports of Russian oil within six months.

A number of European countries, including Hungary and Slovakia, have been given a year to get rid of oil because of their over-reliance on Russian oil.

Hungary and Slovakia stated that they did not see any benefit after the plan was announced. Other countries in Eastern and Southern Europe also revolted. The proposal was sent back to the drawing board on Thursday, as all member states must agree to a number of sanctions.

Hungary and Slovakia a year, the Czech Republic six months and Bulgaria nothing.

According to the report, the Commission wants to give the three countries extra time to get rid of Russian oil in order to get Hungarians, Slovaks and Czechs on board. Reuters† Hungary and Slovakia will get an extra year (end of 2024), while the Czech Republic will get another six months, provided it does not get a gas pipeline from southern Europe before.

We’ll see if Hungary is interested in the new proposal; President Viktor Orbán said Friday that it will take a five-year lead time and significant investment from the EU to gain independence from Russian oil.

According to the news agency, Bulgaria has reportedly asked for a postponement of a possible oil embargo, but has not received any objections.

(small) concession also to southern European countries

Moreover, in the new proposal, European companies will only be banned from transporting Russian oil after three months, not one.

This makes Brussels somewhat familiar with countries such as Greece, Malta and Cyprus, as these countries feared that shipping companies would be hit hard by a possible import ban on Russian oil.

Source: NU