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Home » EU delays proposal to ban Russian oil amid Iran war and price spikes
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EU delays proposal to ban Russian oil amid Iran war and price spikes

staffstaffMarch 24, 20260 ViewsNo Comments
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EU delays proposal to ban Russian oil amid Iran war and price spikes

Published on
24/03/2026 – 14:37 GMT+1

The European Commission has delayed the presentation of a highly anticipated proposal to permanently ban the imports of Russian oil, as the war in the Middle East continues to send shockwaves across energy markets and keep the Brent barrel over $100.

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It also comes amid a tense standoff with Hungary and Slovakia, the only two member states that still buy Russian oil, over the Soviet-era Druzhba pipeline.

The legislation, which is part of the REPowerEU roadmap, was tentatively scheduled to be unveiled on 15 April, but the date has now been removed from the calendar.

“I do not have a new date to give,” Anna-Kaisa Itkonen, the Commission’s spokesperson for energy, said on Tuesday morning.

“What I can reassure you of is that we remain committed to making this proposal.”

The postponement is influenced by the US-Israeli strikes on Iran, which have upended energy markets and closed off the Strait of Hormuz, a vital passage that, until now, carried a fifth of global oil and LNG every day.

On Monday, US President Donald Trump hailed “productive conversations” with Iran to end the war, an announcement that was immediately disputed by Tehran. Still, Trump’s words helped bring down the price of Brent from $112 to $102 per barrel.

In a bid to calm jittery markets, the US has eased sanctions on Russian oil, prompting outrage and dismay among Europeans.

The Commission insisted the change in timing did not mean a change in policy.

“The proposal will be made,” Itkonen said.

Quoting the words of Commission President Ursula von der Leyen, the spokesperson warned that a return to Russian fossil fuels after the war in Ukraine comes to an end would be a “strategic blunder”.

Hungarian-Slovak opposition

The EU had previously banned Russian oil under its traditional sanctions regime, which needs to be renewed every six months by unanimity. Hungary and Slovakia enjoy an open-ended derogation to these sanctions, allowing them to continue purchasing.

The now-delayed legislation is considered energy rather than foreign policy, so it only requires a qualified majority to be approved. Brussels believes the permanent ban will prevent vetoes in the future and close off remaining loopholes.

Under REPowerEU, the bloc has already outlawed imports of Russian gas: liquefied natural gas (LNG) by the end of 2026 and pipeline gas by autumn 2027.

Hungary and Slovakia have already launched legal action against the gas ban and have threatened to do the same if the proposal on oil moves ahead.

The two landlocked countries are currently embroiled in a bitter dispute with Ukraine over the Druzhba pipeline, which carries low-cost Russian crude through Ukrainian territory to Central Europe.

Kyiv says the infrastructure was severely damaged by Moscow in late January and needs to be repaired before transit can resume.

But Budapest and Bratislava contest this argument, claiming the pipeline is deliberately shut down for “political reasons” ahead of the Hungarian elections on 12 April.

The row over Druzhba has paralysed a €90 billion loan for Ukraine.

Read the full article here

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