EU Unlikely To Split 6th Package Of Russia Sanctions To Exclude Oil Embargo - Source

The European Union will "very unlikely" split the sixth package of sanctions against Russia to exclude the oil embargo, contrary to the media reports alleging that Brussels was considering this option because of Hungary, a source in the European Commission told Sputnik on Friday

ATHENS (UrduPoint News / Sputnik - 13th May, 2022) The European Union will "very unlikely" split the sixth package of sanctions against Russia to exclude the oil embargo, contrary to the media reports alleging that Brussels was considering this option because of Hungary, a source in the European Commission told Sputnik on Friday.

On Thursday, the Politico reported that the EU was considering the option to postpone the proposed ban on Russian oil in order to speed up the adoption of the sixth package of sanctions, essentially splitting it in two to appease Hungary, which has been a staunch opponent of the immediate embargo due to economic concerns.

"This scenario is not something the (European) Commission is considering at this stage," the source said when asked whether the EU will split up the package to skip the oil embargo for now.

The source noted that such step was "very unlikely," adding that the EU is optimistic that a solution for Hungary can be found during the weekend so the package can be fully adopted by the EU Foreign Affairs Council (FAC) on Monday.

"Both sides (EU and Hungary) are gradually taking steps back. I hope soon there will be an agreement from all parties engaged in the negotiations and I believe that with the necessary technical changes in the proposal, Hungary will accept and impose the oil embargo as well with the minimum cost on its economy," the source noted.

Russia launched its special military operation in Ukraine on February 24 after the breakaway Donetsk and Luhansk people's republics applied for help in fending off Kiev's provocations. The United States and the EU have since been pressuring Russia with sanctions and have rolled out a number of sanctions packages, which include airspace closures and restrictive measures targeting numerous Russian officials and entities, media, and financial institutions.