The European Union will unveil a proposal to ban remaining Russian oil imports on April 15, three days after Hungary's elections, according to a document seen by Bloomberg. The timing suggests EU officials are waiting for Hungary's political landscape to settle before pushing forward with the controversial measure. Hungary, led by Prime Minister Viktor Orbán, has been one of the last holdouts against the embargo.

Hungary remains heavily dependent on Russian energy supplies, making it a critical obstacle to broader EU sanctions. The country has consistently opposed previous rounds of energy sanctions, arguing its economy cannot quickly transition away from Russian oil. This dependency gives Budapest significant leverage in EU negotiations, as any embargo requires unanimous approval from all 27 member states.

The proposed ban targets the remaining Russian oil imports that have not already been phased out under earlier sanctions. While the EU has already restricted seaborne Russian crude, pipeline supplies to landlocked countries like Hungary have remained exempt. The April 15 announcement could mark a pivotal moment in Europe's energy decoupling from Russia, though Hungary's position will be crucial to the measure's success.