It evolves into a poker game for tough players the discussion at the extraordinary Summit on the Russian oil and energy embargo, as disagreements over the 6-item sanctions package against Russia, and in particular on the embargo on Russian oil and its derivatives, do not appear to be easing, and there are significant differences in dealing with accuracy as a result of the energy crisis.
According to information broadcast by the state channel, the “27” do not seem to reach an agreement on the embargo on Russiaas, in addition to the objections raised, mainly by Hungary, but also by other countries seeking guarantees from the rest of Europe, practical issues were also raised, such as the creation of appropriate infrastructure to replace Russian oil and gas, from other sources.
Countries such as Hungary, which is 58% dependent on Russian oil and gas, but also Slovakia, which is 96% dependent, and the Czech Republic, which is 50% dependent, need a sufficient period of time to set up the new infrastructure they will need in order to meet their needs. Based on the above, the most affected countries ask for guarantees from the rest of Europe, as their economies depend to a very large extent on their relationship with Moscow and in the event that the conciliation with Russia is abruptly terminated, there is a risk of total collapse.
Slovakia and the Czech Republic have said they will try to make the necessary changes as soon as possible, but Hungary has said it is reluctant to do so, raising many questions and frustration over its stance.
The plan under discussion is the embargo on Russian oil supplies by sea and the exemption from the embargo until the end of the year, on the Dusba pipeline.
Germany, along with other countries, is being considered for an exemption, but this choice has provoked reactions from countries such as Belgium, Italy or the Netherlands, which have expressed dissatisfaction with the exemption of this pipeline from sanctions.
Orban: The solution to the embargo at the next Summit
In… 22 days, at the regular meeting of the European Council, on 22 and 23 June, the Hungarian Prime Minister referred Victor Orbanto find a solution to the “Gordian knot” of the embargo on Russian oil if the extraordinary summit does not reach an agreement.
“The next discussion on what is happening with pipeline oil should take place at the leadership level, as the issue is very political,” the Hungarian told other leaders at the summit, according to two diplomats cited by Politico.
In his remarks, Orban effectively rebuffed other EU officials and diplomats who insisted that the issues related to sanctions on Russian oil imports were mainly technical at this stage, and could be resolved by relevant officials.
Orban is still resisting the current compromise plan, despite including an exemption for Russian pipeline oil. Orban said he wanted assurances that Hungary would still be able to buy oil if its pipeline supply was cut off.
If the Hungarian Prime Minister insists on his position that the issue can only be resolved by European leaders, it would mean that the issue will have to wait until the next European Council.
However, two diplomats estimated that they did not must be interpreted literally Orban’s words, suggesting that the Hungarian leader may simply have stressed how politically important the issue is.
Mitsotakis also raises the issue of Turkish provocation
I will inform the European Council about the recent intense Turkish provocation, as well as about the effects of this behavior on the stability of the Eastern Mediterranean, said the Prime Minister, Kyriakos Mitsotakis, coming to Extraordinary summit in Brussels.
“Greece is facing these challenges with confidence and determination. “We are a country that has international law on its side, we have strong allies and of course we have invested even more in our deterrent so that we do not allow anyone to challenge our sovereignty and sovereign rights,” he continued.
The full statement of the Prime Minister:
“The first issue that will concern us at the extraordinary European Council, which starts shortly, will be the 6th package of sanctions against Russia. I believe that we are close to reaching an agreement, which will include sanctions to ban the export of oil and oil products to the European Union from Russia. I believe that the individual objections of Member States can be reduced in order to reach, in the end, the desired result.
We will also have the opportunity to discuss the very important challenges we face as the European Union in energy sector. All European Member States are currently facing very high energy prices, the result of excessively high gas prices, prices which – as I have said many times – are not justified by the laws of supply and demand.
That’s why it’s important to we bring back the discussion about a ceiling on the wholesale price of gasso that in this way we can drag down overall energy prices and of course electricity prices.
We will have the opportunity to discuss the very interesting proposals submitted by the European Commission in the framework of the new REPowerEU project, which Greece can also take advantage of, by absorbing significant additional resources from the unused loans of the Recovery and Resilience Fund (RRF).
In any case, I want to repeat that The Greek government will stand by Greek consumers, businesses, households in order to contain, as far as possible, high electricity prices.
Within the next 15 days, the relevant platform will be opened, in order to return 60% of the excessive increase that households have paid to the electricity bills since the beginning of the year. And from the beginning of July, a new electricity pricing system will be implemented, with interventions in the wholesale market, so that the adjustment clause is really neutralized and the increases in electricity prices are reasonable.
Let me remind you that last week the Greek Parliament voted to tax 90% of the super profits of wholesale electricity companies. These will also be additional resources that will be directed to our efforts to support households and businesses.
Finally, I will inform the European Council of recent intense provocation of Turkey and its impact on the stability of the Eastern Mediterranean.
Greece is facing these challenges with confidence and determination. “We are a country that has International Law on its side, we have strong allies and of course we have invested even more in our deterrent, so that we do not allow anyone to challenge our sovereignty and sovereign rights.”
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