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


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.)

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