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EU to exclude embargo on Russian oil from its next sanctions

EU to exclude embargo on Russian oil from its next sanctions

Berlin, May 11 (Prensa Latina) The European Union (EU) will exclude the embargo on Russian oil from its sixth package of sanctions, the German news agency DPA reported.
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According to the information, the ban on the transportation of fuel from Russia will be exempted in the next group of measures.

Several countries in the region such as Germany, Hungary, Slovakia and the Czech Republic rejected the EU’s initiative last week.

“Being responsible, we cannot support this version of the EU’s package of sanctions,” Hungarian Foreign Minister Peter Szijjarto acknowledged in a video posted on his Facebook account.

According to the foreign minister, the European plan would “destroy” the energy security of his country, which receives more than 60 percent of its oil consumption from Russia.

Greece, Cyprus and Malta joined the region’s repudiation of the punitive measure, because it could unilaterally harm their shipping companies.

However, the veto on European insurance companies to stop providing their services to oil tankers laden with Russian crude remains part of the new sanctions package, according to DPA.

For its part, Russia is preparing to take on any restrictive measures against its oil and gas resources, with the establishment of agreements with new buyers, mainly from Asia and the Pacific.

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