Maintaining Opposition to Hungary's Embargo
Also Withdraws Russia's Ban on Maritime Oil Transport
[Asia Economy Reporter Hyunwoo Lee] Ursula von der Leyen, President of the European Union (EU) Commission, held talks with Viktor Orb?n, Prime Minister of Hungary, to discuss the issue of the Russian oil embargo. As Hungary continues to oppose the EU's embargo proposal, the new EU sanctions against Russia have yet to be approved, and this meeting is seen as an effort to persuade Hungary. Within the EU, voices calling for a relaxation of the oil embargo have grown louder, and it is reported that the ban on maritime transportation of Russian oil has also been withdrawn.
According to the Associated Press on the 9th (local time), President von der Leyen visited Budapest, the capital of Hungary, and after holding talks with Prime Minister Orb?n, she stated on her Twitter, "The discussion with Prime Minister Orb?n helped clarify issues related to sanctions against Russia and energy security," adding, "Negotiations have made progress, but further work is needed."
This meeting took place amid Hungary's continued opposition to the EU's Russian oil embargo proposal. The EU is currently negotiating among member states to include the Russian oil embargo as a key element of the new sixth package of sanctions against Russia, but Hungary's opposition has prevented the sanctions from being approved. Approval of the new EU sanctions against Russia requires unanimous consent from all member states.
Within the EU, calls to ease the Russian oil embargo are increasing. Bloomberg News, citing sources familiar with the EU's sanctions against Russia, reported, "The EU has decided to withdraw sanctions on EU-owned vessels transporting Russian oil to third countries," adding, "This plan was withdrawn due to opposition from member states heavily dependent on shipping, such as Greece and Malta."
However, the EU has decided to maintain sanctions prohibiting insurance provision to shipping companies transporting Russian oil. Bloomberg News pointed out that many shipping companies are already using tactics such as ship falsification or changing transportation routes to evade the insurance ban, so the sanctions are expected to have limited effect.
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