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Germany still believes it cannot give up Russian energy: Hebestreit

  • By Al Mayadeen Net
  • Source: Agencies
  • 21 Mar 2022 17:06
  • 2 Shares
2 Min Read

Prices can reach $300 or maybe $500 a barrel.

  • x
  • BP’s Lingen Refinery in North West Germany (Emsland) aerial view
    BP’s Lingen Refinery in North West Germany (Emsland) aerial view

Although Germany and Qatar struck an agreement yesterday, Sunday, for a long-term energy partnership, Germany still holds the conviction that it is not able to abandon Russian oil, according to German government spokesperson Steffen Hebestreit on Monday. 

Read more: Hebestreit: Russia is a vital trading partner, not an ally

 

Hebestreit commented on media reports that the European Union is taking into consideration sanctions against Russian oil. 

"The government remains convinced that it cannot refuse to oil imports from Russia. This is the position of the government, there is no change in it, according to my information," Hebestreit told a briefing when asked whether Berlin will disregard sanctions against Russian oil amid reports that such a decision is on the table at the EU.

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Sanctions against Russia have been threatening Germany and Europe in general with not only increasing costs of living, but also impending mass poverty if Berlin were to completely shun Russian energy. 

Destination diversification

According to Russian Deputy Prime Minister, Alexander Novak, Russian intends to diversify its oil supply destinations against the backdrop of Western-led sanctions on Russian oil.

"Of course, we have taken into account all scenarios, the toughest that you can imagine. We proceed from the fact that we will not allow this, we will diversify supplies. Oil, after all, is not a pipe, mostly. Basically, these are tankers, which can be delivered to other regions. Therefore, we will create logistics schemes and chains," Novak told reporters. 

Read more: Russia takes measures to secure economy amid Russian oil bans

He continued to explain that in principle, companies are already engaged in this process: If the West does refuse Russian oil, prices will jump to $300 a barrel. Novak noted that the prices may even reach $500 a barrel. 

As a response to the embargo, Moscow is eyeing a ban on uranium supply from Russia to the Unied States. 

According to the US Energy Information Administration, around half of all uranium imports into the US come from Russia and its allies, Kazakhstan and Uzbekistan.

  • United States
  • Russian oil
  • Steffen Hebestreit
  • Russia
  • Germany
  • Sanctions on Russia
  • Uranium
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

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