EU rewrites oil ban to give Hungary, Slovakia and Czech Republic more time – POLITICO

The European Commission has proposed a revised plan for sanctioning Vladimir Putin’s profitable oil business, to offer some international locations within the bloc extra time to organize for all times with out the Russian gasoline imports.

Under plans seen by POLITICO and put ahead to diplomats on Friday, Hungary and Slovakia would get till the tip of 2024 — an additional yr on high of the authentic timetable — to adjust to the ban.

The Czech Republic, which additionally expressed considerations in regards to the timescale proposed by Ursula von der Leyen earlier this week, can have till the tip of June 2024, below the Commission’s newest draft.

Hungary and Slovakia had warned that the financial harm from ditching Russian oil provides can be too extreme except they’d extra time to adapt. Slovakia stated it wanted till at the least the tip of 2025 whereas Hungary’s Prime Minister Viktor Orbán referred to as for a five-year delay.

Talks between diplomats from EU international locations are ongoing and no last settlement on the bloc’s sixth Russia sanctions bundle has been reached. Targeting Putin’s oil business is seen as very important to attempt to restrict a key income stream serving to finance his invasion of Ukraine.

With debate over particulars persevering with, the negotiations between EU international locations might go on late on Friday evening or into the weekend.

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