By making a promise that the EU's embargo excludes the pipeline that landlocked Hungary relies on for Russian oil, the bloc aims to reduce Moscow's income to finance the war it launched more than three months ago in Ukraine.
Leaders will ask the EU's executive Commission to examine temporary price caps and work on potential reforms to Europe's electricity market - a move backed by countries including Spain and Greece, but which countries including Germany have opposed. "It would have been unbearable for us to operate the Hungarian economy with the more expensive oil ... this would have amounted to an atomic bomb but we have managed to avoid that," Orban said in a video posted on Facebook.
Latvian Prime Minister Krisjanis Karins said keeping the EU united was the prime goal, despite effectively giving into the demands of Hungary, a member state that rights groups say is increasingly authoritarian and combative vis-a-vis the bloc.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EU fails to agree on Russia oil embargo, to try again Monday before summitBRUSSELS: The EU failed on Sunday (May 29) to agree on an embargo of Russian oil, but diplomats but will still try to make progress ahead of a Monday-Tuesday summit on an exemption for pipeline deliveries to landlocked Central European countries, officials said. However, a senior EU diplomat said there was cause they realized that they are all just a bunch of hypocrites who cared more about profits than the environment or the war.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Senior Ukraine official says EU sanctions on Russia still 'not enough'MADRID: The latest European Union sanctions on Russia, which ban most imports of its oil, are \u0022not enough\u0022 and the pace of sanctions so far has been too slow, a senior official in the Ukrainian president\u0027s office said in a speech in Madrid on Tuesday (May 31). In the bloc\u0027s toughest reprisals against Mosco
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
EU makes eleventh-hour push for deal on Russia oil sanctionsBRUSSELS: Top European Union diplomats met on Monday (May 30) for a last-ditch attempt to agree on Russian oil import sanctions before their leaders meet later in the day, seeking to avoid a display of disunity over the bloc\u0027s response to the war in Ukraine. According to a new draft of the summit conc
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
EU to pledge support for Ukraine, but not ready with new Russia sanctions
Source: STForeignDesk - 🏆 4. / 71 Read more »
Oil climbs ahead of EU meeting on Russia sanctionsMELBOURNE : Oil prices rose to two-month highs on Monday as traders waited to see if the European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine.Brent crude futures gained 46 cents, or 0.4 per cent, to $11
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Zelensky chides EU for failing to agree on Russian oil import ban2/3 of oil is already banned for now.
Source: STForeignDesk - 🏆 4. / 71 Read more »