EU tweaks Russia oil sanctions plan in bid to win over reluctant states, including Cyprus (Updated)

The European Commission proposed changes to its planned embargo on Russian oil to give some countries more time to shift their energy supplies, and to address shipping concerns expressed by Cyprus, Greece and Malta.

The EU executive set out the embargo this week as part of its toughest-yet package of sanctions against Russia over the conflict in Ukraine. But a number of EU member states said they were worried about the impact on their own economies

The tweaked proposal – which EU envoys discussed on Friday morning without reaching an agreement – would give Hungary, Slovakia and the Czech Republic help to upgrade their refineries to process oil from elsewhere and delay their exit from Russian oil to 2024, sources said.

The initial proposal called for an end to EU imports of Russian crude and oil products by the end of this year.

There would also be a three-month transition before banning EU shipping services from transporting Russian oil, instead of the initial one month – to address concerns raised by Greece, Malta and Cyprus about their shipping companies, one of the sources added.

Diplomats said talks were complex but many expressed confidence all 27 EU governments could agree before next week. “I don’t think we’ll see a breakthrough today, more likely at the weekend,” the diplomat said. Top EU diplomat Josep Borrell said on Friday he would call an extraordinary meeting of EU foreign affairs ministers next week if no deal was reached by the weekend.

Cyprus, Greece and Malta said they expected the European Union to take into account their concerns, President Nicos Anastasiades said on Friday.

Greece, Malta and Cyprus have the largest shipping fleets in the 27 member EU, and host large ship-management centres.

“It’s necessary to take into account concerns of Greece, Malta and of course Cyprus in specific matters relating to the sanctions,” Anastasiades told reporters in Athens.

Anastasiades, who earlier met with Greek Prime Minister Kyriakos Mitsotakis, said this was a “common position” of both.

“We are both clear. We are against the Russian invasion and of course in favour of sanctions. But these sanctions should be targeted, and not selective in serving some member states and leaving others exposed,” Anastasiades said.

A Greek government official said talks in Brussels were still in progress and Athens would respect any joint decision.