Baltic states urge EU to speed up ban on Russian oil, FT reports
Photo: Baltic states call on EU to speed up Russian oil phaseout (Getty Images)
The Baltic states have urged Brussels to accelerate delayed plans to ban imports of Russian oil, as EU fears of a major energy crisis triggered by the war in Iran have not materialized, according to the Financial Times.
At the end of last year, member states agreed that the European Commission would put forward a proposal to ban imports. However, negotiations stalled after the outbreak of conflict in late February led to the closure of the Strait of Hormuz and sparked concerns over an energy supply crisis.
According to several sources familiar with the talks, at a meeting of energy ministers on Friday, Estonia, Latvia, and Lithuania called on the EU to proceed with proposals for a gradual phaseout of imports, arguing that Russian energy exports help finance the Kremlin's war in Ukraine.
EU Energy Commissioner Dan Jørgensen did not comment on the remarks during the closed-door meeting. However, the European Commission has pledged to present a proposal.
The renewed calls come amid a gradual reopening of shipping through the Strait of Hormuz after the United States agreed with Iran to extend a ceasefire, which was expected to stabilize oil markets. Roughly one-fifth of global oil and gas volumes typically pass through this key waterway in the Persian Gulf.
When asked about the prospects for a ban, Poland's Deputy Energy Minister Wojciech Wrochna told the FT that Warsaw considers it necessary "before the end of the year."
"But we understand concerns about the price, availability [of supplies], and competitiveness as a consequence. That's the price we need to pay to become independent from Russian resources," he said.
As a reminder, we previously reported that lawmakers in Germany and France are calling for strict inspections and the detention of Russian vessels that help Moscow bypass oil sanctions and finance its war against Ukraine.
