Energy

EU nears oil embargo, Hungary and Slovakia want exemptions

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The European Commission has been prepared sanctions on Russia’s oil as the war in Ukraine drags on. However, Slovakia and Hungary want to be granted some exemptions.

Joe Klamar | Afp | Getty Images

The European Union is closing in on a new round of sanctions against Moscow that will likely include an embargo on Russian oil imports.

But the Brussels-based institution first needs to solve division between the member states, with two EU nations demanding exemptions due to their heavy dependency on Russian hydrocarbons.

Russia’s unprovoked invasion of Ukraine, and evidence of war crimes, has pushed the EU to take bolder steps on energy sanctions. But imposing measures that could reduce, or fully…



Source cnbc.com

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