EU Delays Plan To Permanently Ban Russian Oil Imports

The disruption of supply caused by the Israeli-U.S. war on Iran has caused oil prices to skyrocket.

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Arkhangelsk. Northern Dvina River. Oil tanker “Varzuga”

The disruption of supply caused by the Israeli-U.S. war on Iran has caused oil prices to skyrocket.

The European Commission will not meet its planned April 15 deadline to present a legal proposal to permanently ban Russian oil imports, according to an updated European Union legislative agenda released Tuesday, March 24.

An EU official told Reuters the proposal has not been cancelled, only delayed, but that the timing has been pushed back due to unspecified

current geopolitical developments.

The measure is expected to enshrine into law a full phase-out of Russian oil imports by the end of 2027, aligning with broader EU efforts that include a timeline to end Russian gas imports. The proposal is intended to remain in force even if sanctions on Russia are lifted after a peace deal in Ukraine.

Most EU imports of Russian seaborne oil have already been eliminated under existing sanctions. Hungary and Slovakia, both landlocked countries dependent on Russian oil, have had their supply disrupted after Ukraine claimed Russia attacked the Druzhba pipeline on January 27. 

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