Enlarge this imageDemonstrators demand an embargo on Los Angeles Angels Of Anaheim Jersey Ru sian oil during a protest in front of EU institutions prior to an extraordinary meeting of EU leaders to discu s Ukraine, energy and food security at the Europa building in Bru sels on Monday.Olivier Matthys/APhide captiontoggle captionOlivier Matthys/APDemonstrators demand an embargo on Ru sian oil during a protest in front of EU institutions prior to an extraordinary meeting of EU leaders to discu s Ukraine, energy and food security at the Europa building in Bru sels on Monday.Olivier Matthys/APAfter weeks of intense negotiations, European Union leaders have agreed to ban most oil imports from Ru sia. The move is part of the bloc’s newest sanctions package on Moscow, which had been held up by a few member states like Hungary that are heavily reliant on Ru sian oil. The EU says it will ban “most” imports of Ru sian oil to the bloc, but what does that mean? EU Commi sion President Ursula von der Leyen said on Tuesday morning that this embargo would apply to around 90% of oil imports from Ru sia to the EU by the end of this year. About two-thirds of imports would be blocked in the near term, Charles Michel of the European Council said. When this round of sanctions was announced a month ago, Von der Leyen said the EU would ban all Ru sian oil. EU member states about the details since then, with one member particularly staunch in opposing the harshest measures. Putin’s ally inside the European Union Viktor Orbn, prime minister of Hungary and a friend of Vladimir Putin, was largely responsible for the delay in and changes to this latest round of sanctions. He threatened to tank the entire package, a scenario that would have been a big embarra sment for the EU.Orbn is concerned about an Andrew Heaney Jersey EU-wide oil embargo on Ru sia because Hungary receives more than 60% of its oil from Ru sia via a pipeline, but Carnegie Europe’s Judy Dempsey says that Orbn has many reasons to block the EU’s actions on Ru sia including weakening the EU itself from within. Enlarge this imageDemonstrators demand an embargo on Ru sian oil during a protest in front of EU institutions prior to an extraordinary meeting of EU leaders to discu s Ukraine, energy and food security at the Europa building in Bru sels on Monday.Olivier Matthys/APhide captiontoggle captionOlivier Matthys/APDemonstrators demand an embargo on Ru sian oil during a protest in front of EU institutions prior to an extraordinary meeting of EU leaders to discu s Ukraine, energy and food security at the Europa building in Bru sels on Chris Young Jersey Monday.Olivier Matthys/AP”You just wonder how so many of the member states tolerate this maverick politician who is very devious and who has intentions to weaken the EU, which suits Ru sia” says Dempsey.Politics Here’s why American conservatives are heading to Hungary for a big conference In the end, Orbn forced the EU to weaken what was intended to be a complete ban on Ru sian oil into a ban solely on sea shipments of that oil. Pipeline deliveries from Ru sia, which benefit Hungary, Slovakia, and the Czech Republic, will continue to flow. Europe will have to replace the seas shipments of oil from other countries, which doesn’t appear to be a complicated problem. A tougher task will be for Europe to wean itself off of Ru sian natural gas. The EU depends on Ru sia for around 40% of its natural gas and will need to continue importing that gas in the short-term because its economy depends on it. Individual countries like Germany are working hard to wean themselves off this gas supply, but that could take years.Other sanctions in the latest packageWorld Select Ru sian banks are being booted off the SWIFT bank me saging system This sixth round of EU sanctions also includes an a set freeze and travel ban on individuals close to the Kremlin. It also removed Ru sia’s biggest bank Sberbank from SWIFT, the global financial transfer system. Three big Ru sian state-owned broadcasters will also be prevented from distributing their content within the EU. The bloc also agreed on Luis Valbuena Jersey providing Ukraine with nearly $10 billion in a sistance to help rebuild the country’s economy.
