Slovakia demands longer exemption from Russian oil ban

The European Commission proposed a phased ban on imports of Russian crude oil and oil products to take full effect at the end of this year. Slovakia and Hungary would be allowed to take Russian oil until the end of 2023, but only based on existing contracts. It also proposed disconnecting Sberbank, Russia’s largest lender, and two other banks from the SWIFT payment system. Slovak Economy Minister Richard Sulík agrees with the ban, but demands an exemption to the end of 2025. Hungary demands a permanent exemption. The Slovnaft refinery needs €160m to adapt its technology to non-Russian oil and the EU is ready to pay part of the bill. Last year, the EU imported 30% of its crude oil from Russia, accounting for two thirds of Russian oil exports