Reuters learned that the EU could not agree on an oil embargo

According to an EU official, EU-discussed sanctions imply a ban on Russian oil supplies by sea until the end of the year, but provide an exception for oil via the Druzhba pipeline

On the eve of the EU summit, the EU governments did not were able to reach an agreement on the oil embargo against Russia. This was reported to Reuters by an EU official.

According to him, the sanctions being discussed by the EU include a ban on the supply of Russian oil by sea until the end of the year, but provide for an exception for oil supplied via the Russian Druzhba pipeline. The interlocutor of the agency indicated that discussions would continue tomorrow.

According to Bloomberg sources, it was Hungary that refused to support the compromise, despite the exception for the Druzhba oil pipeline. At the same time, an EU representative told the agency that a deal with Budapest “is still possible in the coming days.”

Oil pipeline “Friendship” was built in the 1960s. It follows from Samara to Mozyr (Gomel region of Belarus), after which it is divided into two branches— north and south. The first goes through the territory of Belarus, Poland, Germany, Latvia and Lithuania, the second— on the territory of Ukraine, the Czech Republic, Slovakia, Hungary and Croatia. The total length of pipelines— 8900 km.

A TASS source said that the EU summit will also discuss the legalization of the confiscation of Russian assets in the jurisdiction of the European Union.

The EU authorities are preparing the sixth package of sanctions against Russia since May. Previously, it was supposed to include a complete ban on the import of Russian oil to the EU. New sanctions must be agreed upon by all countries— members of the union, however, Slovakia and Hungary, in particular, opposed the oil embargo, and the latter blocked the consideration of the issue of sanctions during the vote on May 8.

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Hungarian Foreign Minister Peter Szijjártó said his country would like the ban not to apply to crude oil imports via pipelines. The Hungarian Foreign Ministry also pointed out that 85% of all gas consumed in Hungary and 65% of oil are supplied from Russia, which “cannot be replaced overnight.” Brussels has crossed a red line with the embargo proposal, Prime Minister Viktor Orban said, and it will take years to rebuild the country's energy sector.

Russian presidential spokesman Dmitry Peskov, speaking about the possible refusal of the EU from Russian oil, warned that this decision would “hit everyone”. According to Russian Deputy Prime Minister Alexander Novak, in the event of a ban, world oil prices could jump to $300 per barrel. If this happens, Russia will expand sea supplies, despite the fact that the country has already begun to redirect flows from west to east, to Asian markets, he noted.

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