EU ban on Russian oil could lead to 'disruptions': German minister
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Germany's Economy Minister notes that his country will feel the impact of the EU's recent ban on Russian oil proposals, but says Berlin still backed the EU's measures.
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German Economy Minister Robert Habeck
German Economy Minister Robert Habeck underlined on Wednesday that a gradual EU ban on Russian oil imports could lead to supply "disruptions" and price increases but backed the measure as a necessary step to sanction Moscow.
"I have said a few times that we can of course not guarantee in this situation that there won't be disruptions, primarily regional disruptions," Habeck told reporters after a cabinet meeting.
Nevertheless, he stressed that Berlin backed the EU's measure as a response to the war in Ukraine.
The German Minister cited specifically the PCK refinery in the eastern town of Schwedt as one that could feel the impact. The refinery supplies around 90% of the oil consumed in Berlin and the surrounding region, including the Berlin-Brandenburg international airport.
Russian oil giant Rosneft, controlled by the Kremlin, is a majority shareholder in the site -- a complicated situation Habeck said would have to be "resolved politically".
He noted that the gradual implementation of the ban should help soften shocks to oil markets.
Earlier, the President of the European Commission unveiled plans for a gradual ban on Russian oil imports as part of the anti-Russian sanctions imposed on Moscow over the war in Ukraine.
The embargo is part of the bloc's sixth sanctions package and would be phased in over the rest of the year to help countries adapt.
Germany has ruled out an immediate embargo on all Russian energy, especially gas. But it aims to end Russian oil imports by the end of this year.
Russian supplies now make up 12% of Germany's oil imports compared to 35% previously, according to data provided by the Economy Ministry on Sunday.
