The EU is backtracking on plans to ban imports of Russian oil after facing pressure from several European countries, most notably Greece, Malta and Hungary, which has also withheld its backing of the proposed EU embargo on oil from the country.
The proposed ban was intended to add further strain on Russia by cutting off a major export market. The European countries that protested the ban argued that a number of EU economies would be hit hard if it had passed, and that the ban won’t be effective because it does not involve other countries such as the US and UK, where many shipping vessels are flagged.
Lengthy negotiations have taken place over the last few days after the Commission proposed on May 4 to ban Russian crude oil imports within six months, and refined products by the end of the year, but no goal was achieved.
Provisions had been made to offer one-year exemptions to Hungary and Slovakia, which are landlocked and largely dependent on supplies from Russia. These were then extended to the Czech Republic and pushed back to the end of 2024.
But these exemptions didn't go far enough, and as the discussions progressed, other member countries (Bulgaria, Greece, Cyprus, Malta) pointed out their own difficulties.
As feared, division within the EU bloc, once united against Moscow, seems to be taking hold, and discussions are set to become even more fraught when they tackle the issue of gas imports.
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