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Politico: Late Compromise Could See Russia Sanctions Passed Soon

EU-RUSSIA

Politico is reporting that a late compromise could be sought in order to pass the sixth round of EU sanctions on Russia at the 30/31 May special European Council summit. Report states that Hungary remains the major holdout on an oil embargo. Adds that due to rule of law conditionality mechanisms being in place with regards to the Hungarian gov't, disbursing massive tranches of funding to assist in transitioning the Hungarian oil sector away from Russian supplies could prove impossible.

  • The compromise would be to limit the embargo on Russian oil to that delivered by ships rather than pipelines. Hungary (as well as other landlocked Central and Eastern European states) rely on pipeline oil rather than that delivered by tankers.
  • Politico reports that according to an unnamed EU diplomat, by limiting the embargo to shipped oil Hungary's objections could be hopefully be overcome and a deal could be reached swiftly.
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