Commissioners To Vote On Latest Russia Sanctions, Including Oil Embargo

European Commissioners are due to vote on the sixth round of sanctions against Russia later this afternoon, with the likelihood that a form of oil embargo is included but with carve outs or long lead times for EU member states particularly reliant on Russian crude.

• College of Commissioners meeting takes place in Brussels at 1430CET (0830ET, 1330BST). No confirmation of whether Commission Pres. Ursula von der Leyen will announce sanctions in presser after meeting or in her address Wednesday morning to European Parliament plenary session.
• Euractiv reporting that Hungary and Slovakia will be offered “an exemption or a long transition period” on the oil embargo so not to impose a severe shock on both economies, which remain heavily reliant on Russian oil. Earlier this morning Hungarian Foreign Minister Peter Szijjarto stated that Hungary would not approve any oil embargo that made Russian O&G shipments to Hungary "impossible".