The EU is reportedly considering imposing import tariffs on Russian crude if any members of the bloc refuse to implement the terms of the newly announced embargo on oil from the country, the FT reported on Wednesday.
Earlier this week, EU member states reached an agreement on a partial ban of Russian crude from the bloc’s market. The cushioned embargo will affect about 75% of Russian oil imports, with that percentage growing to 90% by the end of the year.
However, the measure allows a temporary exemption for pipeline supplies, which was introduced to win the support of Hungary and other landlocked countries that had been blocking the proposal for about a month. The exemption reportedly didn’t come with any agreed timeframe, raising concerns that Budapest may continue importing Russian crude for as long as it wishes.
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