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Home›Budapest mortgages›EU and Russia split as rebels impose sanctions change | Science | News

EU and Russia split as rebels impose sanctions change | Science | News

By Arthur Holmes
May 7, 2022
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The European Commission had to propose changes to the planned Russian oil embargo after Hungary, Slovakia and the Czech Republic unleashed their fury against the plans. Greece, Malta and Cyprus also had concerns. It comes after Commission President Von der Leyen this week announced plans to completely ban all Russian oil from Europe as Vladimir Putin continues to wreak havoc in Ukraine.

She said in the proposal to the European Parliament this week: “It will be a complete ban on all Russian oil, marine and pipeline, crude and refined.

“We will ensure that Russian oil is phased out in an orderly manner, in a way that allows us and our partners to secure alternative supply routes and, at the same time, ensure that the impact on the market is minimized. global.”

But the proposal was torn apart by rebel states who argued that their economies needed more time to deal with the embargo.

According to EU sources, EURACTIV reports that a modified proposal would further help rebel nations modernize their oil infrastructure.

It came after Slovakia tore up the initial EU plan, as it stressed it needed more time to research an alternative fuel, despite having had a year more, with Hungary , than the rest of the block to fit the ban.

Slovakia’s Deputy Economy Minister Karol Galek told Politico: “It’s unfortunately not enough.

“We wait at least three years.”

Hungary also rejected the proposal on similar grounds.

Budapest argued that oil sanctions provide no guarantees for its energy security and demanded that the plan be changed.

The Czech Republic has also asked for a longer phase period or an exemption like the one Hungary and Slovakia have been allowed.

READ MORE: Russia humiliated as loophole discovered in threat to shower UK with radiation

Last year the EU imported €48.5bn (£38bn) of crude oil in 2021 and €22.5bn (£19bn) of other petroleum oils than crude.

And it still depends on Russia for 26% of its oil imports.

Ukrainian energy adviser Pavlo Kutvah told Express.co.uk that Ms von der Leyen’s plan will deal a “hard blow” to Putin.

He said: “The Russian business model is basically that of a gas station. They sell oil and gas and that’s their main income, and that’s what funds both their corrupt elite and their war effort.

“So, of course, any kind of blow to that is a big blow to the Russian economy and a huge step towards pacifying Russia.”

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