Reuters: EC offers Czechia exemption from Russian oil embargo until mid 2024

The European Commission has proposed giving the Czech Republic an exemption from the planned embargo on Russian oil until mid-2024, and an exemption for Hungary and Slovakia until the end of the same year, Reuters reported on Friday, citing an unnamed diplomatic source.

A modified proposal for the oil embargo against Russia was discussed on Friday after three EU member states said they needed more time to cut their dependence on Russian oil. The Czech Republic is heavily dependent on Russian oil imports.

According to Reuters, the EU executive also came up with several other concessions, including support for investment in new oil infrastructure.

Czech Prime Minister Petr Fiala has welcomed the offer saying it is being debated in the cabinet. Industry and Trade Minister Jozefa Síkela told the ctk news agency that by that time the Czech Republic could secure sufficient oil supplies from other than Russian sources.