EU allow Hungary Czech Republic and Slovakia to continue buying Russian oil

EU’s Russian oil embargo has had to undergo some changes and exceptions in an attempt to save the economy of European countries that rely heavily on Russian oil

On Friday, May, 6, the European Commission reportedly edited the proposal for an embargo on Russian oil, giving an extended period for the countries of Hungary, Czech Republic and Slovakia, as reported by Reuters.

The edited proposal will mean that the countries of Hungary, Czech Republic and Slovakia will be able to carry on purchasing Russian oil up until June 2024, so long as a Southern European oil pipeline is not installed earlier.

Speaking to Radio Kossuth on Friday, May, 6, Hungarian Prime Minister Viktor Urban stated: “This proposal is equivalent to an atomic bomb dropped on the Hungarian economy in this form. We cannot accept a proposal that ignores this.”

Russia has claimed that the EU’s recent oil embargo will only serve to worsen the current global energy crisis:

“The global energy crisis is not over and the EU is exacerbating it by inflating prices for sources of oil and petroleum products supply alternative to Russian ones. It is precisely Russia, selling oil at a discount, that prevents prices from rising,” they claimed.

The UK has since established further sanctions and bans on Russia, claiming it relies on western companies and services for a large part of its imported goods, with the Foreign Secretary assuring that the  measures will help pressurise Putin’s economy.

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