Russian oil embargo divides Europe

The war in Ukraine is at the center of the European summit organized on Monday 31 May. The emblematic embargo envisaged against Russian oil, however, continues to divide. “We have the ability to hurt Putin very quickly, a European diplomat confided to me a few minutes ago. Oil embargo by the end of the year, this will be the first time that will only concern maritime transport , i.e. two thirds of Russian imports. It will be extended to land routes as soon as possible”explains Pascal Verdeau, correspondent in Brussels.

Landlocked, Hungary is still blocking the decision. “European leaders are hoping that Viktor Orban will rally behind the cause. He too must get his old refineries back on track, which today only process Russian crude oil. He needs investment and financial solidarity European Union. In return, he will have to undertake to maintain a kind of fair competition between Europeans and not to sell cheap Russian oil”he concludes.