European Union EU finally reached a deal – after weeks of negotiations – on an oil ban against Russian sourced oil and petroleum products. United States US and EU concluded their second US-EU Trade and Technology Council ministerial meeting.US-UK FTA Agreement moving forward
much. the 27 countries in europe have to agree pretty much which to the sanctions, and certainly that is not an easyjob and certainly that is not an easy job as we and certainly that is not an easyjob as we have seen already. as you have said hungary, czech republic and slovakia holding out, especially hungary asking for additionalfunding of three additional funding of three quarters additionalfunding of three quarters of $1 billion. fire additional funding of three quarters of $1 billion. are we in the territory quarters of $1 billion. are we in the territory now- quarters of $1 billion. are we in the territory now of - in the territory now of concessions? i in the territory now of concessions?- in the territory now of concessions? ~ , concessions? i think there is actually peeple concessions? i think there is actually people forgetting i actually people forgetting there is a very important measure europe has already almost agreed on, which is a shipping insurance band. interesti
can the eu agree on a ban on russian oil? it s not looking hopeful. eu leaders meet again to see what might be done. resistance, notably from hungary, has held up the eu s troubled sixth lot of sanctions. 0ther landlocked countries, such as slovakia and the czech republic, have also asked for more time, due to their dependence on russian oil. bulgaria, already cut off from russian gas by gazprom, has likewise asked for opt outs. but prime minister viktor 0rban s hungarian government, which has compared an oil ban to dropping a nuclear bomb on its economy, is seen as the ultimate obstacle. he wrote to the european council to say he didn t even want to be discussed. joining me now is dr adi imsirovic, senior research fellow, the oxford institute for energy studies. sir, you ve worked in the industry for 30 years. this weekend, the eu chief
Oil prices have been rising this week on a flurry of bullish news, and analysts see price risk to the upside as traders are betting on a reopening of the Chinese economy in June