European Union leaders are expected to agree at the summit later today that a package of sanctions being prepared should include an embargo on Russian oil, as punishment for Moscow invading Ukraine, but exclude pipeline deliveries.
However, according to a Reuters report, as they are unable to agree on all the details of the embargo, the leaders will leave the final agreement on the sanctions package for later.
“The European Council agrees that the sixth package of sanctions against Russia will cover crude oil, as well as petroleum products delivered from Russia to the Member States, with the temporary exception of crude delivered by pipelines,” the draft conclusions of the meeting said. is owned by Reuters.
The European Council therefore calls on the Summit to finalize and approve it without delay, ensuring fair competition and a level playing field in the EU single market and solidarity between Member States in the event of a sudden supply disruption, the draft states.
It added that the 27 EU Member States would address the issue of a temporary exemption for crude oil delivered by pipelines as soon as possible.
Source: Capital
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