New sanctions against Russia: EU proposes to stop transport of Russian oil and media

The proposal from the Russian Federation to stop the use of oil will be part of the 11th EU sanctions package after Russia’s invasion of Ukraine. It will require the support of all Member States and this may change before it happens as negotiations continue.

The European Union may refuse to supply Russian oil through the Druzhba pipeline. At this stage, it’s about the supply of “black gold” to Germany and Poland, Bloomberg media reported on Friday, April 12.

The media are writing about the proposal of the European Union to officially stop oil supplies to these two countries, which are allowed to ignore EU sanctions and continue to use oil from the Russian Federation, citing documents at the disposal of the editors.

In practice, both companies in Poland and Germany have already stopped buying oil from the northern part of the Druzhba pipeline. Thus, they fulfilled their promise to reduce oil costs.

Note that these two countries imported an average of about 480,000 barrels per day through Druzhba in 2022. The three countries in the south extracted an average of about 290,000 barrels of oil per day, and that level has dropped just a little this year.

At the same time, exceptions allowing flow from the southern branch of the line feeding Hungary, Slovakia and the Czech Republic will remain in effect if the EU officially supports the proposal to stop the transit of oil from the Russian Federation.

In addition, oil transit from Kazakhstan will continue with the pipeline. There is no mention of banning it as imports from other third countries are allowed, including in the case of oil transit through Russia.

Recall, on May 10, it was learned in Switzerland that the assets of the Russian Federation were frozen about $ 8.3 billion. According to the press secretary of the Swiss Ministry of Economy, the country’s authorities consider it legally possible to use the money of the Central Bank of the Russian Federation to restore Ukraine after the war.

And on May 8, the media wrote that the European Union will close ports to ships carrying Russian oil to circumvent sanctions. The European Union continues to work on 11 sanctions packages against Russia for its invasion of Ukraine. Journalists learned that, for example, the bloc wanted to close the loopholes by restricting the transport of Russian oil and oil products after the ceiling was introduced.

Source: Focus


Please enter your comment!
Please enter your name here