EU could reach summit deal to sanction Russian oil shipments, official says

0

European Union countries are negotiating a deal on Russian oil sanctions that would embargo on deliveries but delay sanctions on oil delivered by pipeline to reach Hungary and other landlocked member states, officials said on Friday.

“The idea is to split the oil embargo into pipeline and sea deliveries,” an official said. “Pipeline would get a waiver for a period of time to arrange a replacement.” Another official said a deal could be reached by EU member states’ ambassadors in Brussels on Sunday, in time for their leaders to agree at a May 30-31 summit.



Hungary’s resistance to oil sanctions – and the reluctance of a handful of other countries – has delayed the implementation of a sixth round of sanctions by the 27-member EU against Russia for its invasion of the EU. ‘Ukraine.

(Reporting by Kate Abnett and Jan Strupczewski; Writing by John Chalmers)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and up-to-date with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor


Source link

Share.

Comments are closed.