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EU proposes ban on Russian oil imports, removes Sberbank from Swift

But the plan immediately ran into opposition from EU countries seeking a longer transitional period, including Hungary, which has reportedly already been offered an extra year to ditch Russian oil.

“The shortest period, we’ve been clear on that, our oil companies have been clear on that, is three to five years,” Zoltan Kovacs, spokesperson for Prime Minister Viktor Orban, told CNN’s Eleni Giokos.

European Commission President Ursula von der Leyen said earlier Wednesday the measures would form part of a sixth round of sanctions against Russia over its invasion of Ukraine.

“We now propose a ban on Russian oil,” she said during a speech to the European Parliament. “Let’s be clear: it will not be easy. But we simply have to work on it. We will make sure that we phase out Russian oil in an orderly fashion, to maximize pressure on Russia, while minimizing the impact on our own…

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