EU looking at faster Russian oil and gas exit, after US pressure

A ban on seaborne Russian crude oil has cut the EU's Russian oil imports by 90%, but Hungary and Slovakia still import via a pipeline and Europe is expected to purchase about 13% of its gas from Russia this year, though that is down from 45% before Russia's 2022 invasion of Ukraine, EU data shows.

EU officials are in Washington to discuss coordination on further Russia sanctions to cut off funding for its war in Ukraine. However, internal divisions and the need for global support raise questions over how effective such steps will be.

U.S. President Donald Trump, seeking to end the war, told European leaders last week to stop buying oil from Russia, a White House official said. He has also urged the EU to hit the major buyers of Russian oil, China and India, with up to 100% tariffs to increase pressure on Moscow.

In a speech to the European Parliament, von der Leyen said the EU is "looking at phasing out Russian fossil fuels faster, the shadow fleet and third countries" as part of the 19th package of sanctions being prepared.

The Kremlin said on Monday that no sanctions would ever force Russia to change course in the war in Ukraine.

US, EU DISCUSSIONS TO TAKE PLACE THURSDAY

U.S. energy secretary Chris Wright and EU energy commissioner Dan Jorgensen will discuss efforts to restrict Russian energy trade in Brussels on Thursday.

"We're working on doing what we can to speed up the process," Jorgensen told reporters on Wednesday.

"It is very frustrating that we are still importing Russian energy to Europe. It means that we are indirectly helping financing Putin's war."

In addition to the seaborne crude oil ban, the EU has imposed a price cap on Russian oil purchases and has targeted more than 400 tankers with sanctions to curb transportation of Russian oil by a shadow fleet of unregulated vessels. It is now negotiating legal proposals to completely phase out imports of Russian oil and gas by January 1, 2028.

HUNGARY, SLOVAKIA RESIST FURTHER CURBS

Sanctions could bring forward these deadlines, but Hungary and Slovakia have so far opposed measures on gas imports, which they say would raise energy prices.

EU countries agree sanctions by unanimity while other legal proposals can be passed with support from a reinforced majority of countries.

Hungary and Slovakia import around 200,000-250,000 barrels per day of Russian oil, equivalent to about 3% of EU oil demand.

Some analysts question the EU's willingness to target non-EU countries - which the EU calls "third countries" - with sanctions over Russian oil purchases.

"We have long maintained the view that Western powers need to have China and India on board with their sanctions for them to be truly effective," said ICIS analyst Ajay Parmar.

"We also think it unlikely that the EU will realistically be willing to apply sanctions on India or China, nor the UAE, which has facilitated the flow of Russian oil since the war began."