EU TO PHASE-OUT OIL IMPORTS FROM RUSSIA WITHIN 6 MONTHS COMPLETELY
EXTENSION OPTION FOR HUNGARY AND SLOVAKIA
The President
of the European Commission Ursula Von der Leyen announced the ban on Russian
Oil imports addressing the European Parliament at the 6th sanction slash
against Russia at Strasbourg.
The Russian
Oil ban, she mentioned in precise includes, complete import restriction on the crude
oil, oil channelled via sea line and pipe-line from Russia in to European
Union.
Ursula’s announcement
provided clarity to the member states and partners, who are heavily dependent
on Russian Oil that the complete ban also refers to a systematic phase-out play
of six months.
She clarified
that within six month of time, the alternatives for oil are to be worked out, and
at the end of the year, Europe aims of having zero oil imports from Russia, and
is to engage with the new alternative.
The
correspondent of DW News confirms about the time extension of more than a year
will be given to Hungary and Slovakia to completely end oil imports from Russian
Oil, else they would never agree with the sixth sanctions on Russia announced
by the President of the EU Commission as both countries are much dependant on
Russian Oil.
However,
there EU Commission expressed concerns over the reaction of the Russian
President Putin over the sixth sanction imposition announcement pointing out
the unpredictable nature of Putin.
The other aspect
of which the members are concerned is about the price rise in Europe and the
World as Russia may export oil to other nations at high prices.
Ursula Von
der Leyen the European Parliament announcement contained determined intention
about banning the Russian Oil imports in European Union completely. However she
did mention about the additional time extension option that member states have on
switching to alternatives, but emphasized that the Russian Oil ban is bound to
take place.
That is all
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News Writer –
Amit Rao
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