EU delays permanent ban decision on Russian oil imports
Photo: The EU has postponed a decision on a complete ban on Russian oil (Getty Images)
The European Commission has postponed the submission of a legislative proposal on a permanent ban on imports of Russian oil, which was previously planned to be presented on April 15, reports Reuters.
According to an EU representative, the initiative has not been canceled and will be presented later. The reason for the delay is cited as “current geopolitical developments.”
Amid the escalation in the Middle East, in particular the war between the United States, Israel, and Iran, global oil markets are experiencing significant volatility. According to the International Energy Agency, these events have caused one of the largest supply disruptions in history, leading to rising prices.
Brussels emphasized that in the long term, the EU intends to fully abandon Russian oil by the end of 2027. The relevant law is to secure this ban even in the event of a possible lifting of sanctions in the future.
Currently, imports of Russian oil in the European Union remain only in certain countries, including Hungary and Slovakia.
In February, Russia’s revenues from oil exports fell to the lowest level since the start of the full-scale invasion of Ukraine.
On March 13, the United States temporarily eased sanctions against Russian oil and petroleum products. According to a diplomatic source, such a step is unlikely to stabilize global markets, but may allow the Kremlin to finance the war longer.
A similar position was expressed by the President of Ukraine, Volodymyr Zelenskyy, who said that Russia could get up to $10 billion to continue hostilities.
