Brussels prepares tariffs on Russian oil imported by Hungary and Slovakia

The European Commission is considering targeted tariffs on Russian oil imports still allowed in Hungary and Slovakia, in an effort to bypass existing exemptions.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

The European Commission is planning to impose higher tariffs on Russian oil imports carried out by Hungary and Slovakia, two European Union (EU) countries still exempted from the embargo introduced in 2022. This proposal, currently under development, comes amid renewed international pressure, particularly from the United States, to further limit energy flows from Russia.

The EU initially banned Russian oil imported by sea in response to the invasion of Ukraine, but granted flexibility to Hungary and Slovakia, two landlocked countries dependent on Russian pipelines. This exemption remains legally binding, as any modification would require their agreement. The use of a tariff mechanism would allow Brussels to reduce the economic attractiveness of these purchases without triggering a veto.

A trade tool to bypass political deadlocks

The Commission’s project would allow the measure to be adopted by a qualified majority of the 27 Member States, avoiding the need for unanimous consent. Specifically, 15 countries representing 65% of the EU population would be sufficient to approve the proposal. This threshold could be more easily reached than a revision of the exemption scheme.

EU imports of Russian oil fell to €1.75bn ($1.85bn) in Q2 2025, compared to nearly €29bn ($30.7bn) in the same quarter of 2021. However, the remaining volumes concern mainly Hungary and Slovakia. The continuation of these flows has drawn international criticism, especially following US President Donald Trump’s intervention at the United Nations.

Political and economic implications to watch

In his speech, Donald Trump condemned these purchases as an indirect form of support for the Russian war effort, conditioning further US sanctions on a full halt to European imports of Russian hydrocarbons. This stance revives transatlantic tensions over coordinated energy responses to Moscow.

The European Union has set a target to end all imports of Russian hydrocarbons by 2027, with an earlier deadline of 2026 for liquefied natural gas (LNG). The introduction of tariffs would serve as an interim step to accelerate this phase-out while taking into account the logistical constraints of countries still dependent on Russian supply.

Iraq secures production by bypassing US sanctions through local payments, energy-for-energy swaps, and targeted suspension of financial flows to Lukoil to protect West Qurna-2 exports.
Restarting Olympic Pipeline’s 16-inch line does not restore full supply to Oregon and Seattle-Tacoma airport, both still exposed to logistical risks and regional price tensions.
Faced with tightened sanctions from the United States and European Union, Indian refiners are drastically reducing their purchases of Russian crude from December, according to industry sources.
Serbia’s only refinery, operated by NIS, may be forced to halt production this week, weakened by US sanctions targeting its Russian shareholders.
Glencore's attributable production in Cameroon dropped by 31% over nine months, adding pressure on public revenues as Yaoundé revises its oil and budget forecasts amid field maturity and targeted investment shifts.
The profitability of speculative positioning strategies on Brent is declining, while contrarian approaches targeting extreme sentiment levels are proving more effective, marking a significant regime shift in oil trading.
Alaska is set to record its highest oil production increase in 40 years, driven by two key projects that extend the operational life of the TAPS pipeline and reinforce the United States' strategic presence in the Arctic.
TotalEnergies increases its stake to 90% in Nigeria’s offshore block OPL257 following an asset exchange deal with Conoil Producing Limited.
TotalEnergies and Chevron are seeking to acquire a 40% stake in the Mopane oil field in Namibia, owned by Galp, as part of a strategy to secure new resources in a high-potential offshore basin.
The reduction of Rosneft’s stake in Kurdistan Pipeline Company shifts control of the main Kurdish oil pipeline and recalibrates the balance between US sanctions, export financing and regional crude governance.
Russian group Lukoil seeks to sell its assets in Bulgaria after the state placed its refinery under special administration, amid heightened US sanctions against the Russian oil industry.
US authorities will hold a large offshore oil block sale in the Gulf of America in March, covering nearly 80 million acres under favourable fiscal terms.
The American major could take over part of Lukoil’s non-Russian portfolio, under strict oversight from the U.S. administration, following the collapse of a deal with Swiss trader Gunvor.
Finnish fuel distributor Teboil, owned by Russian group Lukoil, will gradually cease operations as fuel stocks run out, following economic sanctions imposed by the United States.
ExxonMobil will shut down its Fife chemical site in February 2026, citing high costs, weak demand and a UK regulatory environment unfavourable to industrial investment.
Polish state-owned group Orlen strengthens its North Sea presence by acquiring DNO’s stake in Ekofisk, while the Norwegian company shifts focus to fast-return projects.
The Syrian Petroleum Company has signed a memorandum of understanding with ConocoPhillips and Nova Terra Energy to develop gas fields and boost exploration amid ongoing energy shortages.
Fincraft Group LLP, a major shareholder of Tethys Petroleum, submitted a non-binding proposal to acquire all remaining shares, offering a 106% premium over the September trading price.
As global oil prices slowed, China raised its crude stockpiles in October, taking advantage of a growing gap between imports, domestic production and refinery processing.
Kuwait Petroleum Corporation has signed a syndicated financing agreement worth KWD1.5bn ($4.89bn), marking the largest ever local-currency deal arranged by Kuwaiti banks.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.