Europe Moves To More New Energy To Pressure Russia

EU agrees on partial ban of Russian oil imports

May 30, 2022 (CNN)

The European Union has agreed on a partial ban on Russian oil imports…[It] immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine…[The] announcement followed an extraordinary European Council summit attended… to discuss a sixth package of sanctions against Russia…[The] package includes other hard-hitting measures: de-Swifting the largest Russian bank Sberbank, banning 3 more Russian state-owned broadcasters, and sanctioning individuals responsible for war crimes in Ukraine…

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The EU agreed to ban 90 percent of Russian oil imports by the end of the year…Russian oil delivered by tankers would be banned, while an exemption will be made for the southern segment of the Druzhba pipeline…The northern segment of the pipeline serves Poland and Germany — who have agreed to the embargo. The southern part goes to Hungary, Slovakia and Czech republic…[and account for 10% of imports on Russian oil…

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’ …[This new] agreement has been held up by some countries, like Hungary, that are particularly reliant on Russian crude delivered via pipeline…[B]anning all seaborne oil would cover more than two-thirds of imports from Russia…Russian crude accounted for 27% of the bloc's imports in 2021…About 35% of that was delivered via pipelines…But pipeline deliveries made up a much bigger share of Russian oil shipments to Hungary (86%), the Czech Republic (97%) and Slovakia (100%)…” click here for more

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