Finance
EU to propose permanent ban on Russian oil after Hungary election, document shows
Published by Global Banking & Finance Review®
Posted on February 24, 2026
3 min readLast updated: February 24, 2026
Global Banking & Finance Review®
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Published by Global Banking & Finance Review®
Posted on February 24, 2026
3 min readLast updated: February 24, 2026
The European Commission will propose a permanent EU Russian oil ban on April 15, three days after Hungary’s election. The plan aims to lock in a full phase‑out by 2027, bypassing potential vetoes amid Druzhba pipeline outages.
By Lili Bayer and Kate Abnett
BRUSSELS, Feb 24 (Reuters) - The European Commission will submit a legal proposal to permanently ban Russian oil imports on April 15, three days after Hungary's parliamentary election, according to EU officials and a document seen by Reuters.
Two EU officials told Reuters the timing was designed to prevent the oil ban becoming a major factor in Hungary's election campaign. Hungary and Slovakia, still reliant on Russian oil imports, are strongly opposed to any ban.
In the April 12 election, Hungarian Prime Minister Viktor Orban and his nationalist Fidesz party are facing the biggest challenge to their hold on power in 16 years.
The EU has already imposed sanctions on imports of seaborne Russian oil. But it wants to enshrine a full phase-out of Russian oil in legislation that would remain in place, even if a peace deal in the Ukraine war led to the EU lifting sanctions.
The Commission plans to propose the Russian oil ban on April 15, according to a draft agenda seen by Reuters. EU agendas are provisional, and the date could still change.
A Commission spokesperson did not immediately respond to a request for comment on the plan.
Shipments of Russian oil to Hungary and Slovakia via the Druzhba pipeline have been severed since January 27, when Kyiv said a Russian drone strike hit pipeline equipment in Western Ukraine. Slovakia and Hungary say Ukraine is to blame for the prolonged outage. Kyiv says it is trying to repair the pipeline.
HUNGARIAN VETO
Orban's government, which has maintained cordial ties with Moscow since the full-scale Russian invasion of Ukraine in 2022, has vetoed new EU sanctions on Russia as well as a huge loan for Kyiv because of the Druzhba pipeline dispute.
The European Union is expected to circumvent any attempt by Hungary and Slovakia to block the planned permanent ban on Russian oil imports by using a law that can be approved by a qualified majority of member states.
EU Energy Commissioner Dan Jorgensen has said the proposal will phase out Russian oil imports by no later than end-2027.
By the final quarter of last year, the EU was importing just 1% of its oil from Russia, largely as a result of the bloc's sanctions on seaborne Russian crude.
The EU last month fixed into law a full phase-out of Russian gas by late 2027. Hungary and Slovakia have vowed to challenge that law in court.
Orban has cast Hungary's April election as a stark choice between "war or peace", saying his opponents would drag the country into the war raging next door in Ukraine, something they strongly deny.
(Reporting by Kate Abnett, Lili BayerEditing by Gareth Jones)
The European Commission intends to propose a permanent ban on Russian oil imports, timed just after Hungary’s election, to codify a full phase‑out across the EU.
According to EU officials, the Commission plans to present the proposal on April 15, three days after Hungary’s April 12 parliamentary election.
Both countries remain reliant on Russian oil delivered via the Druzhba pipeline and argue a ban threatens energy security and prices. They have vowed to challenge related EU measures.
Shipments via the Druzhba line to Hungary and Slovakia have been halted since January 27 due to damage in western Ukraine, fueling a dispute over responsibility and prolonging outages.
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