EU unveils proposal to embargo on Russian oil amid doubts over the proposalFly into the homes of ordinary people
Since the conflict between Russia and Ukraine, many countries in the United States and Europe have continued to impose additional sanctions on Russia, involving many fields. On the 4th, the European Commission submitted its sixth round of proposals for sanctions once morest Russia, including a complete ban on the import of Russian oil by the end of this year.
According to the procedure, the proposal needs to be unanimously approved by the 27 EU member states to enter into force. And some member states are highly dependent on Russia for energy. Can the proposal pass? There are many doubts within the EU.
The draft of the sixth round of sanctions once morest Russia by the European Commission includes: phasing out the import of Russian oil within 6 months, whether by sea or pipeline; adding large financial institutions such as Russia’s largest bank Sberbank to the sanctions list and banning three The news products of the Russian state media are implemented and disseminated in the EU in any form.
Regarding the sanctions plan being discussed by the EU, Russian Foreign Ministry spokeswoman Zakharova said on the 4th: “If the EU wants to hurt us, let them cut it on their own.”
There are many doubts regarding the proposal within EU member states.
In 2021, 96% of the crude oil and petroleum products consumed in Hungary will come from Russia. Hungarian Foreign Minister Sjjardo said on the 4th that Hungary does not support a new round of sanctions once morest Russia by the European Commission, which will “completely destroy” Hungary’s energy supply and prevent Hungary from obtaining the oil needed to ensure the normal operation of the economy. Scijardo said Hungary has no access to the sea and pipelines are the only way for oil to enter Hungary. Hungary will not agree to the proposal unless countries importing Russian crude through pipelines get an “exemption.”
And 58% of the crude oil and petroleum products consumed by Slovakia in 2021 will be imported from Russia. Under the European Commission’s proposal, Hungary and Slovakia were allowed to extend the transition period by several months.
Some netizens sarcastically said: So the EU “mother” means that her two children will have more time to quit food before starving to death. Some netizens asked: “Now the food and clothing issue in Hungary is decided by Washington and Brussels!” Some netizens suggested: “It’s time to leave the EU, not just Hungary. Why mix with dictators who violate national interests?”
Due to Russia’s geographical proximity to other European countries, and the relatively low cost of pipeline operation and transmission, EU countries and Russia have had a long-term close oil trade relationship. The Brussels Institute for European and Global Economics estimates that the EU currently consumes regarding $450 million of Russian oil every day, or regarding 3 billion yuan. In addition, most European refineries are designed and operated according to the technical parameters for processing Russian oil. Even if they find alternative oil, the physical and chemical parameters do not match most refining equipment.
Peter Adrian, chairman of the German Chamber of Commerce and Industry, warned on the 4th that the embargo on Russian oil will have a serious impact on German companies. He said that although companies’ demand for Russian oil can be made up through alternative energy sources, the resulting increase in oil prices will inevitably increase the burden on companies, and in extreme cases, companies may be forced to close for cost reasons.
According to a report by Bloomberg on the 4th, Greece, Malta and Cyprus also questioned the total ban on Russian oil imports, saying the proposal might harm the interests of European companies. A European diplomat warned that granting even one or two countries highly dependent on Russian energy would be problematic and might trigger a “domino effect” that might lead to more countries making similar demands.
