The EU agrees on a new round of sanctions against Russia that includes a cap on the price of Russian oil

File – File image of the Gazprom logo at a headquarters in Germany. – Fernando Gutierrez-Juarez/dpa-Ze – File

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Crude oil that arrives through a pipeline is exempt from the measure, as requested by Hungary


The member states of the European Union have reached an agreement this Wednesday to approve the new round of sanctions against Russia, which will include a cap on the price of Russian oil, and which responds to the escalation of the conflict in Ukraine after the illegal referendums and the annexation of four Ukrainian regions occupied by the Russian Army.

As confirmed by the Czech Presidency of the Council, the Twenty-seven have reached a “political agreement” this morning at the level of ambassadors to adopt the eighth round of sanctions against Moscow since the beginning of the military aggression against Ukraine.

In a message on social networks, the president of the European Commission, Ursula von der Leyen, has applauded the agreement of the European ambassadors and has celebrated that the EU is moving “fast and firm” in the face of Russia’s maneuvers. “We will never accept fake referendums or any kind of annexation. We are determined to continue to make the Kremlin pay,” she said.

In any case, European sources indicate that the text must now be finished and adopted by written procedure, so the new restrictive measures will see the light of day on Thursday morning, before the start of the informal summit of heads of state and of the EU Government in Prague.

That same day they will be published in the Official Gazette of the EU and will come into force, thus meeting the deadlines set by the European bloc to respond to the escalation of Russian President Vladimir Putin, in a matter of days and before the summit in the Republic Czech.

Full details of the package remain to be known, which will further limit imports of Russian products and European technology exports in an attempt to undermine Russia’s industrial and military capacity. The ‘blacklist’ of individuals and companies responsible for the illegal consultations in Donetsk, Lugansk, Kherson and Zaporizhia and the mobilization of reservists will also be expanded.

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Likewise, member states have been discussing in recent days the “legal basis” to apply a cap to the price of Russian crude, in an attempt to reduce Russia’s income and stabilize markets.

European sources confirm to Europa Press that this measure has also been agreed upon by the Twenty-seven, although the sanctions will not affect the crude oil that reaches Europe through the pipeline, something that countries such as Hungary and other landlocked European partners demanded due to its heavy dependence on Russian oil.

In a message on social networks, the Hungarian Foreign Minister, Peter Szijjarto, celebrated this achievement, which adds to the exemption granted by the EU to Hungary regarding the veto on Russian oil that will come into force in December. “We have succeeded in exempting pipeline transportation from the oil cap mechanism. Security of oil supply is assured for Hungary and it is not at risk by these measures,” he said.

In this way, Szijjarto has framed this concession in Hungary’s “hard fight” to obtain exemptions from European sanctions that “would harm the Hungarian people or endanger the energy supply”, after Prime Minister Viktor Orbán , has repeatedly spoken out against further measures against Russia.

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