Thread by @DaveKeating

#EUCO summit over, here are the conclusions:

https://twitter.com/barendleyts/status/1531641433890988034

Leaving #EUCO summit, 🇫🇷President #Macron tells journalists the exemptions for 🇭🇺🇸🇰🇨🇿 in the 🇪🇺ban on #RussianOil agreed last night are minimal.

He vows the exemptions will be time limited. But there is no such time limit in the deal. Leaders expected to revisit next month.

Macron says he doesn't rule out 🇪🇺 following up with a #RussianGas ban. “We have to keep credibility and this strategic ambiguity is also useful”

But privately energy industry insiders & EU sources tell me at this time there is almost no chance of an EU embargo on Russian gas.

Dutch PM #Rutte tells journalists he's satisfied by level playing field guarantees stopping cheap Russian pipeline gas coming to Hungary from flooding 🇪🇺 single market.

"The countries making use of the exemptions for pipeline oil aren’t allowed to export it to other countries"

There is particular concern that Port of #Rotterdam, which can no longer import 🇷🇺oil & will have to import more expensive other oil, will face competition from 🇷🇺pipeline oil coming via #Hungary.

Rutte says the Commission will monitor situation to make sure that's not happening

Yes, this is only a partial ban on #RussianOil covering 🇪🇺 2/3 of imports.

But, because Germany & Poland have pledged not to use the exemption and to phase out all Russian oil at the same time as everyone else, it means only 10% of imports will remain: that by pipeline to 🇭🇺🇨🇿🇸🇰