EU will not abandon Russian oil embargo in sixth sanctions package - Reuters

Reuters shared the details of the embargo.

Four EU officials said they were optimistic about the deal, even amid difficult talks with Hungary. Postponement or easing of oil sanctions against Russia will not happen.

The European Union is seeking to agree on a phased embargo on Russian oil in May, despite concerns about dependence on Russian oil in Bulgaria, the Czech Republic, Hungary and Slovakia.

"There will be an agreement," said a senior EU diplomat. He added that there is flexibility in the proposed transition and levels of investment for countries that rely entirely on Russian oil and need alternative sources of supply.

Another high-ranking official said that an agreement could be reached on May 16.

Another diplomat expects to reach an agreement by the end of next week.

"This will be decided at the highest political level between Budapest and Brussels. I am optimistic," he said.

It's expected that while most EU countries will have to fully impose an embargo on Russian oil by the end of 2022, Hungary will have time until the end of 2024, and Slovakia and the Czech Republic by mid-2024.