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Energy chief: EU will stick to its planned Russian oil withdrawal by 2028

Energy chief of the European Union said on Friday that the EU is committed to its plan to phase out Russian crude oil by 2028. He added that Washington had not pressed him to move this deadline forward. White House official: As U.S. president Donald Trump works to end Russia's conflict with Ukraine, Trump told European leaders to stop buying Russian crude oil on Thursday, but did not specify a specific date.

Fuel revenues, as Russia's most lucrative exports have helped Moscow fund its war. The European Union is currently negotiating legal proposals that will phase out EU imports of Russian gas and oil by January 1, 2028.

Energy Commissioner Dan Jorgensen is responsible for EU energy policy. He said he was not personally under pressure by the U.S. government to stop Russian oil purchases before the 2028 deadline. However, he would welcome U.S. support for the EU plan.

"Putin has not only weaponised energy and blackmailed members states against us but we also indirectly finance Putin's War, which needs to stop. "If President Trump supports that, that's a very welcome support because that's our main goal," he said.

Hungary and Slovakia import between 200,000-250,000 barrels of Russian oil per day, which is equivalent to about 3% of EU demand.

EU gas purchases remain much larger. According to EU figures, Europe will purchase 13% of its natural gas from Russia in 2018, down from 45% prior to Russia's invasion of Ukraine.

The White House official has asked for a comment from the Kremlin on Trump's remarks. India accuses the West of hypocrisy for imposing punitive tariffs against the United States because of its continued purchase of Russian oil.

HUNGARY & SLOVAKIA OPPOSE PHASE-OUT

Hungary and Slovakia have continued to import Russian crude through the Druzhba Pipeline, along with Russian gas. They oppose the EU's phase out plan, claiming it will increase energy prices and lead to shortages. Robert Fico, the Slovak prime minister, said that after meeting Ukrainian president Volodymyr Zelenskiy on Friday he didn't want to comment about Trump but that reliable supplies are needed. He also noted that many European countries buy Russian gas and U.S. Liquefied Natural Gas.

Jorgensen stated that he is in discussions with Hungary and Slovakia regarding their concerns, but that if necessary, EU countries can approve the phase-out plan without them. He refused to confirm whether Brussels would provide funding or legal assurances to try to win support from the two countries.

Jorgensen stated that if there are domestic reasons that prevent some countries from supporting it, this does not require unanimity.

The EU proposals were designed to be approved by a majority of members. EU diplomats said they expect energy ministers from member countries to approve the proposals at a meeting in a month. Jorgensen and Chris Wright, the U.S. Energy Secretary, will meet in Brussels next Monday to discuss the EU's commitment to purchase $250 billion worth of U.S. supplies of energy per year as part of a U.S.-EU deal. Analysts say the pledge to buy energy is unrealistic, in part because the EU does not have much control over energy imported by its companies. Jorgensen stated that they would be discussing options on how the EU administration and the U.S. government can ensure that the deal is implemented. The Commission, for example, has stated that it could pool the demand of European companies in order to purchase more U.S. Gas.

It's obvious that our role is facilitation. "The EU is not a trader of gas," Jorgensen stated. (Reporting and editing by Jan Strupczewski, Barbara Lewis and Kate Abnett)

(source: Reuters)