The European Commission, the European Union’s executive body, says according to Reuters that the original proposal on the Russian oil embargo has been amended to extend the deadline for measures in Hungary and Slovakia by another year.

Hungary and Slovakiapassed by the European Union

In this way, the two states can continue to receive energy resources from Russia until the end of 2024, not 2023 as previously stipulated.

The Czech Republic, for its part, will benefit from exemptions from the embargo until June 2024, if it fails to contract oil earlier from pipelines in southern Europe, according to the same source.

European oil investment

Moreover, the officials eu also discusses the amendment to the ban on shipping services for Russian oil, which could include a transition period of three months, not a single month, as now.

In addition, at a meeting on Friday, European leaders will discuss investments in modernizing oil infrastructure and reducing the impact of economic sanctions on EU members.

Ursula von der Leyen, President of the European Commission, on Wednesday proposed a ban on the import of Russian oilgiven the new package of sanctions devised by Europeans against Russia.

With the approval of the governments of the Member States, the energy of the European bloc will undergo a profound change, given that it is largely dependent on resources from Russia.

Austria is not ready to ban gas imports from Russia

According to Alfred Stern, head of OMV, without gas supplies from Russia there will be problems in industry and energy production, as they consume more than 70% of the gas supplied annually.

“I do not think we are ready for an embargo today. Unless we are willing to accept the consequences. Because you have to understand one thing clearly: our gas supply is not provided by our own production in Europe, but by deliveries from Russia, ”he was quoted as saying by RIA Novosti.

The head of OMV stressed that in the event of a refusal of Russian gas, Austria will face problems related to maintaining economic activity. According to him, the country will be able to provide heat for households (they consume about 20% of gas per year), but industry (40%) and energy production (35%) need much more energy.

According to Gazprom, in 2020, Austria bought more than 13 billion cubic meters of gas from Russia. m of gas, ranking fourth in terms of volume among European countries (Germany ranked first). Stern said a gas working group had been set up to look into the supply issue.

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