EU ban on Russian oil to include carve-out for Russian oil
EU plans to ban imports of Russian oil are to include an exemption for Russian oil, in a bid to secure agreement from EU leaders at a summit today.
Hungary has been pushing back at the Russian oil ban, but it’s understood Budapest may be warming to the latest compromise, which includes wording that leaves Russian oil out.
“The text of the proposed sanction remains almost entirely intact, it just now has an additional clause,” an official said. “We will still be agreeing wording which says Russian oil imports are to be prohibited. But with a small clarification that it doesn’t apply to Russian oil.”
It’s understood that the ban will apply to all Russian oil, rather than just some Russian oil, as previous compromises had sought to do.
The exemption will also apply to all Russian oil.
The Kremlin, meanwhile, has threatened to ban the export of Russian oil if the EU goes ahead with its import ban.