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Russian oil ban plans like ‘dropping atomic bomb on Hungary’s economy’

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Russian oil ban plans like ‘dropping atomic bomb on Hungary’s economy’

Brussel’s proposal for a gradual EU-wide ban on Russian oil imports is sowing division, with Hungarian Prime Minister Viktor Orbán evaluating the embargo to an financial “atomic bomb”. 

The principle level of competition is the bold timeline envisioned by the Fee: a phase-out of all Russian crude in six months and all refined oil merchandise by the tip of the yr.

Throughout consultations, Hungary, Slovakia and the Czech Republic have emerged as essentially the most sceptical nations.

The trio are all extremely depending on Russian oil, which they get instantly from the Druzhba pipeline, and are involved the EU ban will imperil their power provides and wreak financial havoc.

The newest compromise signifies Hungary and Slovakia may need till the tip of 2024 to finish the phase-out, two years later than what Brussels has advised, whereas the Czech Republic might additionally profit from a equally protracted exemption, diplomatic sources with information of the state of affairs advised Euronews.

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The European Fee had already ready for a situation the place the EU-wide ban must accommodate nationwide pursuits with the intention to achieve the required unanimity for approval.

The embargo on Russian oil is taken into account essentially the most radical and consequential step taken by the bloc in response to Russia’s invasion of Ukraine. The measure grew to become virtually inevitable after the Kremlin continued its pricey navy marketing campaign propped by the billions spent by Europeans on fossil fuels.

The EU is Russia’s high oil consumer, shopping for round 3.5 million barrels of crude and refined merchandise each day, which final yr amounted to greater than €70 billion. 

The ban is now shaping to be the litmus take a look at of the bloc’s political unity.

“This proposal is equal to an atomic bomb dropped on the Hungarian financial system on this type,” Orbán advised Radio Kossuth on Friday morning. “We can not settle for a proposal that ignores this.”

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Orbán mentioned his nation would wish 4 to 5 years to revamp its power system and develop into impartial from Russian oil. He famous that, whereas different EU states can convey extra crude barrels by means of their ports, Hungary, a landlocked nation, lacks that various path.

The Prime Minister added his authorities will probably be “completely happy to barter” to achieve a compromise that takes into consideration Hungary’s pursuits and calls for.

In the meantime, Slovakia’s Financial system Minister Richard Sulik advised a German broadcaster his nation wanted till the tip of 2025 to implement the total embargo.

If the dispensations are finally agreed upon, this is able to mark the primary time for the reason that struggle in Ukraine broke out {that a} set of EU sanctions just isn’t uniformly carried out. Nevertheless, the financial weight of the three exempted nations is restricted in comparison with the principle consumers of Russian oil: Germany and the Netherlands.

One other level of competition is a proposed clause that will prohibit EU-based transport firms from transporting Russian oil to non-EU nations. The Fee included this provision to additional cripple Moscow’s capability to promote the worthwhile fossil gas all over the world.

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However Greece, whose tankers get pleasure from a dominant position transport Russian oil, along with Cyprus and Malta have raised considerations in regards to the potential financial harm for his or her native industries.

The three nations is perhaps given a further three months to implement the measure, Euronews understands.

Negotiations amongst EU ambassadors started on Wednesday and can proceed all by means of Friday, probably extending into the weekend.

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Biden says he will talk to Netanyahu as Israel pummels Sunni terror targets in Beirut

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Biden says he will talk to Netanyahu as Israel pummels Sunni terror targets in Beirut

President Biden said on Sunday that he intended to talk to Israeli Prime Minister Benjamin Netanyahu imminently, shortly before the Israel-Hamas war intensified in Lebanon.

The Israel Defense Forces (IDF) launched an airstrike on the Lebanese capital of Beirut on Sunday evening, marking the first time the Israeli military implemented an airstrike on the central part of the city amid the yearlong Israel-Hamas war.

Speaking from Dover Air Force Base earlier that afternoon, Biden confirmed to reporters that he planned to speak with Netanyahu. The conversation took place hours before the airstrike began.

“Yes, I will be talking to him,” the Democrat said. “And I’ll tell you what I say to him when I talk to him.”

ISRAELI MILITARY SAYS HEZBOLLAH LEADER HASSAN NASRALLAH KILLED IN BEIRUT STRIKE

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President Biden said he intended to speak to Netanyahu as Israel’s attacks against Hezbollah intensified on Sunday. (Getty Images | Associated Press)

When asked about avoiding an “all-out war” in the Middle East, Biden said the U.S. has “to avoid it.”

“We really have to avoid it,” Biden said. “We have already taken precautions relative to our embassies and personnel who want to leave.”

“And, but, we’re not there yet, but we’re working like hell with the French and many others to avoid [more] war.”

The Associated Press first reported the airstrike on Sunday evening, citing witnesses in central Beirut. The airstrike came the same weekend that the IDF systematically targeted Hezbollah, a Lebanese terrorist group that supports Hamas.

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ISRAEL-HEZBOLLAH WAR: NETANYAHU ‘DID NOT EVEN RESPOND’ TO US CEASE-FIRE DEAL, PLEDGES TO FIGHT ‘FULL FORCE’

Man standing near rubble

A man walks on rubble at the site of an Israeli airstrike in Beirut’s southern suburbs, Sunday, Sept. 29, 2024. (AP Photo/Hassan Ammar)

The IDF had only targeted south Beirut, a Hezbollah stronghold, before Sunday’s strikes. Dozens of people in Lebanon were killed by the IDF over the weekend, including Hezbollah leader Hassan Nasrallah.

Smoke on top of rubble

A man stands on the rubble of buildings near the site of the assassination of Hezbollah leader Hassan Nasrallah in Beirut’s southern suburbs, Sunday, Sept. 29, 2024. (AP Photo/Hassan Ammar)

The Israeli military also confirmed that Nabil Kaouk, the deputy head of Hezbollah’s Central Council, was eliminated by IDF forces.

Fox News Digital reached out to the White House for further comment.

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The Associated Press contributed to this report.

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Paris protesters demand end to Israeli strikes on Lebanon

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Paris protesters demand end to Israeli strikes on Lebanon

France has been a key supporter of Israel, defending its right to self-defence for years and sells an average of €20 million worth of military equipment to the country each year.

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Hundreds of protesters have taken to the streets of Paris to call for an end to Israeli air strikes in Lebanon, potentially using weaponry supplied by France.

The rallies come as at least 24 people were killed and 29 others injured in strikes on two adjacent buildings in the southern city of Sidon.

“We have just one objective, to show the unity of the Lebanese people,” said Hassan Daher, a spokesperson for the groups organising the protest.

“An image that shows all the Lebanese, from all over Lebanon, from different political currents, supporting Lebanon, the refugees, the victims, supporting and defending our country.”

The Lebanese militant group Hezbollah confirmed Nabil Kaouk, the deputy head of the Central Council, was killed on Saturday, making him the seventh senior Hezbollah leader assassinated in Israeli strikes in a little over a week.

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That announcement comes after the group’s leader, Hassan Nasrallah, was killed in a strike on a southern Beirut suburb on Friday evening.

Israel and Hezbollah have exchanged almost daily fire since the war in Gaza started in October, displacing tens of thousands of people on both sides of the border.

Israel has ramped up its aerial assault on Lebanon with more than 700 people killed in the last week alone.

On Saturday Israel moved troops close to its northern border, raising fears of an imminent ground offensive into the country.

France has been a key supporter of Israel, defending its right to self-defence for years.

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An arms export report presented to parliament by the Defence Ministry in July 2023 showed that France had issued 767 export licenses to Israel since 2015.

France sells an average of €20 million worth of military equipment to Israel each year.

In April, 11 NGOs in Paris, including Amnesty International, filed a court case to stop France’s arms sales to Israel, arguing that civilians in Gaza were targeted.

The court rejected that request in May.

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US East Coast Port Strike Set to Start Tuesday, Says Union

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US East Coast Port Strike Set to Start Tuesday, Says Union
WASHINGTON (Reuters) – A port strike on the U.S. East Coast and Gulf of Mexico will go ahead starting on Tuesday, the International Longshoremen’s Association union said on Sunday, signaling action which could cause delays and snarl supply chains. “United States Maritime Alliance … refuses to …
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