EU granted exceptions to the ban on Russian oil

Brussels permits some nations to carry on with purchases

As part of the most recent sanctions on Moscow related to Ukraine, EU member states have agreed to restrict 90% of Russian oil imports by the end of this year.

To earn the support of Hungary and other landlocked nations, the embargo, which had been discussed for almost a month, targets Russian crude delivered by the sea while granting a temporary exception for fuel through pipelines.

"A decision was made. There is no oil embargo in Hungary! Viktor Orban, the prime minister of Hungary, published on Facebook.

Not just Hungary voiced opposition to the Russian oil embargo. Concerned about the potential effects on their economies, the landlocked country was followed by a group of EU members, including Slovakia, the Czech Republic, Bulgaria, and Croatia.

Reportedly, an 18-month exception from a restriction on the sale of oil products has been given to the Czech Republic.

The embargo will not affect Bulgaria until the end of 2024, according to Prime Minister Kiril Petkov, who added that more information would be made public in a few days. The exemption, he continued, would give Sofia time to modify its refineries so they could process oil from alternative sources.

EU foreign policy chief Josep Borrell has claimed that the latest package of sanctions against Russia would not only impact the amount of crude the sanctions-hit nation is selling abroad but would also force down the price it can ask for it.

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