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EU considers more cash for eastern states in bid for deal on Russia oil ban
(EurActiv, 10 May 2022) The European Commission is considering offering landlocked eastern European Union states more money to upgrade oil infrastructure in a bid to convince them to agree to an embargo on Russian oil, an EU source said on Monday (9 May).
The measures are part of a wider package of new sanctions against Russia for its invasion of Ukraine, but the adoption of the legal text still needs an agreement on the size of the investment, the source said, adding another sticking point was Cyprus’s concerns about a proposed ban on the sale of real estate to Russians.
Horse trading after the Commission put forward its original sanctions document last week has delayed approval and the text has already been revised once to try to win over sceptics.
New text drops ban on tankers carrying Russian oil
A new version, currently being drafted, is likely to drop a ban on EU tankers carrying Russian oil, after pressure from Greece, Cyprus and Malta, said the source, who declined to be named because of the sensitivity of the matter.
EU companies would, however, be prevented from offering insurance and other financial services for the transport of Russian oil worldwide, the source added, noting that on this point the original proposal would remain unchanged.
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EurActiv, 10 May 2022: EU considers more cash for eastern states in bid for deal on Russia oil ban
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