Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > Five countries seek to delay EU fossil fuel car phase-out -document
    Top Stories

    Five countries seek to delay EU fossil fuel car phase-out -document

    Published by Jessica Weisman-Pitts

    Posted on June 24, 2022

    2 min read

    Last updated: February 6, 2026

    Image showing a line of cars at a petrol station, symbolizing the tension surrounding the EU's proposed ban on fossil fuel vehicles by 2035. This visual relates to the article discussing five EU countries pushing for a delay in the phase-out.
    Cars queue at a petrol station, highlighting concerns over fossil fuel car phase-out - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:Climate ChangesustainabilityEuropean Commission

    By Kate Abnett

    BRUSSELS (Reuters) – Italy, Portugal, Slovakia, Bulgaria and Romania want to delay a European Union plan to effectively ban the sale of new petrol and diesel cars from 2035 by five years, according to a document seen by Reuters.

    The policy is a key pillar of the EU’s plans to tackle rising transport emissions and speed the shift to electric vehicles, as the bloc strives to cut economy-wide net greenhouse gas emissions 55% by 2030, from 1990 levels.

    The car emissions proposal, made by the European Commission last year, would require a 100% reduction in CO2 emissions from new cars by 2035, making it impossible to sell fossil fuel-powered vehicles in the EU from that date.

    Ministers from EU countries plan to agree their position next week, before negotiating the final law with the EU parliament – which supported the 2035 ban in a vote this month.

    In a paper circulated among EU states, the five countries called instead for a 90% car CO2 cut by 2035 and a 100% target by 2040. They said light commercial vehicles should meet an 80% CO2 cut by 2035 and 100% by 2040, rather than the 100% reduction by 2035 proposed by the Commission.

    “Adequate and tailored transition periods need to be established,” the paper said, citing the need to expand charging infrastructure.

    A Bulgarian official, who did not wish to be named, said climate policies needed to consider economic and social factors such as the “the significant differences” in purchasing power between EU countries.

    Brussels says the 2035 date is crucial because the average lifespan of new cars is 15 years – so a later ban would stop the EU reaching net zero emissions by 2050, the global milestone scientists say would avert disastrous climate change.

    Some EU governments have rallied behind the 2035 target, but Germany’s finance minister said this week the EU’s biggest car market would not support it.

    Ford and Volvo Cars have publicly supported the plan, and Volkswagen aims to stop selling combustion engine cars in Europe by 2035. But industry groups including the European Automobile Manufacturers’ Association have opposed the 2035 target, citing concerns including the uncertain rollout of chargers.

    The EU is negotiating another law requiring countries to install millions of vehicle chargers this decade.

    (Reporting by Kate Abnett; Editing by Susan Fenton)

    Frequently Asked Questions about Five countries seek to delay EU fossil fuel car phase-out -document

    1What is the European Commission?

    The European Commission is the executive branch of the European Union responsible for proposing legislation, implementing decisions, and managing the day-to-day operations of the EU.

    2What are transport emissions?

    Transport emissions refer to the greenhouse gases released into the atmosphere as a result of transportation activities, primarily from vehicles powered by fossil fuels.

    More from Top Stories

    Explore more articles in the Top Stories category

    Image for Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Image for Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Image for Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Image for Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Image for Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Image for Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Image for Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Image for PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    Image for A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Image for Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Image for Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Image for ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    View All Top Stories Posts
    Previous Top Stories PostCzechs seeing stable flow of Russian gas but wary of a drop or halt
    Next Top Stories PostCricket – Boult rips out England top order after Mitchell hits century for NZ