FT learned about EU plans to impose duties on Russian oil because of Hungary

According to the FT source, EU members will agree on tariffs if Hungary does not agree to set a clear deadline for refusing to receive oil through the Druzhba pipeline.At the same time, for the introduction of duties, there will be no need for the consent of all EU members.

The European Commission (EC) will propose to impose duties on Russian oil if EU members fail to agree on the timing of the termination of pipeline supplies that are not under the EU embargo. This was reported by the Financial Times (FT) with reference to a high-ranking representative of the EC.

According to the source of the publication, EU members will agree on duties if Budapest does not agree to set clear deadlines for refusing to receive oil through the Druzhba pipeline. The purpose of such a move is to make Russian supplies less attractive to landlocked European countries, primarily Hungary, or to force Russian companies to sell oil at a discount so that less money comes to the Russian budget, the source said.

According to the FT, for the introduction of duties there will be no need to obtain the consent of all members of the union, a qualified majority will suffice. “The preferred option is still a ban on [Russian oil] imports,” the source said, adding that the position of the Hungarian leadership is weakening.

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The introduction of tariffs will only be discussed if there is an opinion among EU members that Budapest is “only playing for time”, hoping that it will be able to use the delay indefinitely, the FT source said.

The Prime Minister of Belgium said that the EU needs to take a break in the sanctions against RUSSIA Politics

On the evening of May 30, EU members agreed on the sixth package of sanctions against Russia. The countries agreed to introduce a partial oil embargo, which will affect the supply of Russian oil by sea. According to BLOOMBERG sources, first - by 2023 - the EU plans to abandon the sea supply of raw materials, and after the interests of a number of landlocked countries are satisfied, it will expand the embargo on pipeline supplies.

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According to the head of the European Commission, Ursula von der Leyen, thanks to the embargo, Russian oil supplies to the EU will be reduced by about 90% by the end of the year. The remaining 10% will continue to go along the southern branch of the Druzhba pipeline, including to Hungary, which was temporarily released from the embargo.

The Kremlin assumed that if the EU refused to purchase Russian oil, Russia would compensate for these volumes with sales in the east. Against the background of the embargo agreement, the price of the August futures for Brent oil exceeded $119 per barrel. Russian Deputy Prime Minister Alexander Novak warned that if the embargo was adopted, it could soar even higher - up to $300 per barrel.

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