June 22, 2024

Athens News

News in English from Greece

Bloomberg: from the pipeline "Friendship" can lift sanctions

Due to Hungary’s position, the European Union is discussing a partial embargo on oil from Russia and may launch the Druzhba pipeline.

The leaders of some European countries propose to abandon only offshore oil and limit supplies through pipelines, writes Bloomberg. In order for Hungary to be able to refuse the supply of Russian oil, the issue of lifting sanctions from the Druzhba pipeline is being discussed, however, temporarily.

However, in making such a decision, which is now being discussed with the European Commission and the European Council, there is no unanimity among the member countries. EU. Some of them, the most dependent on offshore oil supplies, fear that sanctions will have a greater impact on them. In addition, Bloomberg states, a “halfway” solution, the adoption of a “compromise” oil embargo, will not be as effective as expected.

Through the Druzhba oil pipeline in 2021, Russia supplied the European Union with 720,000 barrels of oil daily, while by sea – 1.57 million barrels per day.

Meanwhile Reuters, citing sources, writes that EU ambassadors can reach a consensus on this issue on Sunday, after which the leaders of the countries will discuss it at the summit on May 30-31. The decision not to impose restrictions on pipeline supplies will help win Hungary’s support and unlock the sixth package of sanctions, the agency’s interlocutors explained.

As our publication reported, the adoption of the proposal of the European Commission to ban the transportation of Russian oil will be the gravestone for Greek tanker fleetinvolved in these shipments.

The European Commission proposal, which requires the unanimous support of all 27 countries to enter into force, includes a phase-out of Russian crude oil supplies in six months and refined products by the end of 2022.

Hungary said the sanctions would make it “impossible to supply the crude oil necessary for the functioning of the Hungarian economy”, while Slovakia, Bulgaria and the Czech Republic expressed disagreement and doubtbecause they relied on the USSR-built Druzhba pipeline to import crude oil to their refineries.

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