Von der Leyen Announces Accelerated Plan to Halt Russian Oil Imports Following Trump Discussion
European Commission President Ursula von der Leyen has pledged to expedite the planned phase-out of Russian oil imports to the European Union, following a conversation with former U.S. President Donald Trump. The current plan aims for a complete halt by the end of 2027, but von der leyen indicated a faster timeline is now under consideration. This move comes after Trump urged NATO countries to cease purchasing Russian oil last week.
The push to cut off revenue streams funding Russia‘s war in Ukraine is gaining momentum, with von der Leyen stating, “Russia’s war economy, which is maintained by the proceeds from the oil industry, finance bloodshed in ukraine.” despite a meaningful reduction since the start of the war, the EU still imported 13 million tonnes of Russian crude oil and 52 billion cubic meters of gas in 2024, according to EU figures. Hungary and Slovakia remain notably reliant on Russian oil.
The announcement follows recent discussions between EU envoy David O’Sullivan and U.S. officials regarding new sanctions against Russia.Trump’s Treasury Secretary hinted at potential U.S. taxes on countries continuing to import Russian oil, contingent on European participation. The European Union approved its 18th sanctions package against Russia in July, targeting Russian and Chinese banks facilitating sanctions evasion.