Oil continues to decline

The decrease seen in oil on the first trading day of the week continues its effect by accelerating on the new trading day.

US crude oil and Brent oil dropped more than 1 percent.

The news flow that the EU's embargo plan regarding Russian oil was softening was effective on the oil markets.

It is stated that while the European Union is expected to ease the sanctions to be applied to Russian oil after internal discussions, Moscow aims to protect a critical item that aims to disrupt oil exports globally.

According to the news of Bloomberg, the union aims to prevent the ships within the union from transporting Russian oil to third countries by preventing the provision of insurance services to ships that will carry Russian oil.

According to the negotiations between the G7 countries, Greece, which is one of the countries with the largest shipping fleets in the world, insisted that this item be removed from the EU's sixth sanction package.

It is estimated that banning Europe from transporting Russian oil will seriously damage Russia's oil exports, which is one of the most important reserve money sources.

Partial progress in EU-Hungary talks
Hungarian Minister of Foreign Affairs and Foreign Trade Peter Szijjarto announced that partial progress was achieved in the meeting between the President of the European Union (EU) Commission Ursula von der Leyen and the Prime Minister of Hungary Viktor Orban on the new sanctions package against Russia.

Speaking to the Hungarian News Agency (MTI) after the Orban-von der Leyen meeting held in Budapest, Szijjarto said that the new sanctions package of the EU Commission, which plans to ban oil purchases from Russia, was discussed at the meeting.

Minister Szijjarto said, "Partial and minor progress was made in the meeting held in Budapest with the President of the EU Commission regarding the new sanctions package against Russia." said.

Szijjarto stated that if the new sanctions package is accepted in its current form, the energy security of his country will be seriously damaged and that they will not accept the new sanction bill of the EU Commission in its current form.