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When will the EU agree to sanctions against Russian oil? – POLITICS

EU ambassadors will discuss tougher action against Russia in the Ukraine war on Wednesday – but if they were hoping for details of the looming plan to sanction Russian oil, they will be disappointed.

The European Commission is preparing proposals for a sixth package of sanctions against Vladimir Putin’s regime, which would include measures against the Russian oil industry, whose profits are crucial to financing the invasion.

The sanctions plan was due to be presented to EU countries earlier this week, but a meeting of envoys scheduled for Wednesday is now unlikely to get an overview of the draft, four diplomats said afterwards preparatory talks today.

The EU ambassadors have not even discussed the next package in bilateral meetings with Commission President Bjorn Seibert, as they have done in previous rounds, diplomats said.

“The longer this takes, the less likely it is that the next package will be presented this week,” said an EU diplomat, adding that countries would be left in the dark about the exact timetable for the Commission, which traditionally prepares and presents this Sanctions against EU countries.

“The Commission has to look for the right balance between a package that is solid enough on the one hand, but workable for the more reluctant countries on the other,” the diplomat said.

Germany and Hungary have been the most vocal opponents of an immediate, total ban on Russian oil, fearing that such a move would severely damage their own economies.

Another EU diplomat said the proposed sanctions package would come “next week at the earliest”. Others refrained from predicting the timing, adding that much will depend on the political messages delivered by the EU ambassadors at Wednesday’s meeting.

https://www.politico.eu/article/russia-ukraine-oil-sanctions-eu-waiting-game-vladimir-putin/?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication When will the EU agree to sanctions against Russian oil? - POLITICS

Fry Electronics Team

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