On Wednesday, the European Commissioner for Economy said that the sixth package of EU sanctions against Russia had been blocked.
According to Paolo Gentiloni, European Commissioner for Economy, from all the packages of European Union sanctions against Russia as a response to the Russian special military operation in Ukraine, the sixth is blocked.
EU Aims at Rationalization Strategy to Shed Russian Energy
"We adopted five sanctions packages very quickly and unanimously, but the sixth package is still holding off for known reasons. I am optimistic about the prospects for finding a compromise," said Gentiloni in Wednesday's interview with Rai News 24 TV channel.
The European Commissioner highlighted the Hungarian government's positions. It does not object to the principle of introducing an energy embargo. Still, it recognizes that the country has some issues with a specific geographical location and energy supply model.
No agreement has been reached yet regarding the sixth package of sanctions against Russia. The box is composed of a draft oil embargo, in which the Commission has introduced the proposal of banning imports of crude oil from Russia six months after the sixth package enters into force and on oil products. In the meantime, the Commission proposed authorizing Russian oil reception until the end of 2024 for Hungary and Slovakia.
European Union (@EU_Commission) Foreign Ministers failed to reach an agreement on a sixth package of sanctions against #Russia, including a controversial oil embargo. pic.twitter.com/L0hr0fo5mX— FANTACY TV (A Mirror of News & Advertising Agency) (@BANIBRATADATT1) May 17, 2022
Sources have revealed that the European Commission had to ease some of the measures proposed in terms of timing, parameters, and possible exceptions to the oil embargo.
Some countries, alongside Hungary, have opposed the oil embargo, as they consider those measures could bring catastrophic results for the European continent.