The European Commission is proposing to allocate funds to several landlocked Eastern European countries to modernize their oil infrastructure to persuade them to support the embargo against Russian oil, which has been under discussion since last week, Reuters reported. to a source close to the negotiations.
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–The measure is part of another package of European sanctions against Russia, but its approval is delayed as the size of the proposed investment is still under discussion. According to the source, additional funding will be allocated for investments in oil pipelines and possibly for improvements in refineries in Eastern Europe, some of which are set to process only Russian oil.
European Commission President Ursula von der Leyen has left for Hungary urgently to discuss “security of energy supply in Europe” with Victor Orbán, her spokeswoman said. Budapest is threatening the European oil embargo project against Russia with a veto. The two will meet for a working dinner at the Carmelite Monastery in Budapest, according to AFP. Hungary is heavily dependent on Russian oil and is asking its EU partners for security of supply in order to agree to a sixth package of sanctions against Russia, including a halt to oil purchases from Russia.
Bulgaria has also threatened to veto the oil embargo if it does not receive discounts and deferrals similar to those proposed for Hungary, Slovakia and the Czech Republic, but EU officials say the problems are smaller and the risks to its energy security can be addressed in other ways. There is another problem, the one in Cyprus, after the package bans the sale of real estate to Russians.
Negotiators are currently working on a third version of the proposal, which would not ban European tankers from carrying Russian oil. The change comes under pressure from Greece, Cyprus and Malta. However, European companies will be banned from offering insurance and other financial services for the transportation of Russian oil around the world, informs BTA.
