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EU Release Oil Ban Draft Ahead of Summit

OIL

The latest draft conclusions being presented at the EU summit this afternoon conclude that "The European Council agrees that the sixth package of sanctions against Russia will cover crude oil, as well as petroleum products, delivered from Russia into Member States, with a temporary exception for crude oil delivered by pipeline,".

  • "The European Council therefore urges the Council to finalise and adopt it without delay, ensuring fair competition and a level playing field in the EU Single Market, and solidarity among Member States in case of sudden interruptions of supply," it adds.
  • Regarding the pipeline ban, the summary adds the EU will "address the issue of the temporary exception for crude oil delivered by pipeline as soon as possible."
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