EU Delays Proposal to Permanently Ban Russian Oil
The April 15 unveiling date has reportedly been removed from the European Commission’s REPowerEU roadmap calendar. EU Commission energy spokeswoman Anna-Kaisa Itkonen said a new date has not yet been determined, but stressed that Brussels remains “committed to making this proposal.” “The proposal will be made,” she was quoted as saying by Euronews
. Russian President Vladimir Putin has offered to resume long-term oil and gas supplies to European buyers amid skyrocketing energy prices since the United States and Israel began striking Iran on Feb. 28. European Commission President Ursula von der Leyen said abandoning the EU strategy that seeks to reduce Russia’s energy revenues from funding its war in Ukraine would be a “strategic blunder.” The EU banned maritime imports of Russian crude in 2022 in response to the full-scale invasion of Ukraine. Russia’s pipeline exports to Hungary and Slovakia, which had been granted exemptions, have been effectively halted since January due to damage to the Druzhba oil pipeline via Ukraine. The EU agreed to ban Russian liquefied natural gas by the end of 2026 and pipeline gas by the fall of 2027. The Middle East war has triggered the largest-ever disruption to global energy supplies, according to the International Energy Agency, sending the price of Brent crude oil above $100 per barrel.