NEWS

Hungary, Slovakia can continue to buy Russian crude oil until end of 2023, source tells Reuters

Hungary, Slovakia can continue to buy Russian crude oil until end of 2023, source tells Reuters

Hungary and Slovakia will be able to continue buying Russian crude oil until the end of 2023 under existing contracts, an EU source told Reuters on Wednesday, benefitting from exemptions from an oil embargo proposed by the European Commission.

The EU executive proposed on Wednesday to ban imports of Russian crude oil within six months, and refined oil products by the end of the year.

In a bid to convince reluctant countries not to veto the proposal, Brussels has proposed a longer period to implement the embargo for Hungary and Slovakia, the source said.

[Reuters]