• Ar
  • Es
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Feature
  • Videos
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Feature
Videos
Infographs
In Pictures
  1. Home
  2. News
  3. Europe
  4. EU needs few months to prepare for full Russian oil embargo
Europe

EU needs few months to prepare for full Russian oil embargo

  • By Al Mayadeen Net
  • Source: Agencies
  • 1 May 2022 23:45

Germany is speeding up its plans to phase out Russian energy imports, while the EU prepares sanctions targeting Russian oil.

 

  • Germany has steadily shifted its position on sanctioning Russian oil
    Germany has steadily shifted its position on sanctioning Russian oil

Germany is calling for a phased-in ban on Russian oil imports into the EU, while the European Union is working to find a deal between its member states before deciding on the bloc's policy on Russian energy, according to the Financial Times.

One of German chancellor Olaf Scholz's closest advisors, Jorg Kukies, said Berlin approved of an oil embargo on Russia but will need a "few months" to prepare before phasing out shipments of Russian crude.

Berlin had earlier said it will need until the end of the year before it would be able to do so, and it was reluctant to sanction oil when the war in Ukraine first began. However, it gradually shifted its position as the war went on.

“We’re asking for a considered wind-down period,” Kukies told the Financial Times. “We want to stop buying Russian oil, but we need a bit of time to make sure we can get other sources of oil into our country.” Most German refineries have already switched to other suppliers.

Moscow has recently cut off gas to Poland and Bulgaria.

Russian energy giant Gazprom announced on Wednesday that it had completely suspended gas supplies to Bulgaria's largest natural gas distribution company Bulgargaz and Polish oil and gas company PGNiG, as the companies failed to pay for gas in rubles.

As of the end of the business day on April 26, Gazprom Export had not received payments for gas supplies in April from Bulgargaz and PGNiG in rubles.

Some other EU countries, such as Italy, have been pushing for other measures against Russia, such as a price cap or tariff on Russian oil.

Hungary’s prime minister Viktor Orban has warned his government would “not yield to any pressure to extend sanctions against Russia to gas or oil, as that would kill the Hungarian economy.”

The head of the Hungarian Prime Minister's office, Gergely Gulyas said on Sunday that apart from Hungary, nine other European countries have opened accounts in Russian banks in accordance with Russia's scheme to accept gas payments in rubles.

Hungarian Foreign Minister Peter Szijjarto said on Friday that several European gas suppliers to Russia have agreed to new payment terms in rubles, but are keeping it quiet and disseminating misleading information about Hungary's attitude on the subject.

  • Germany
  • Russian oil
  • Russia
  • war in Ukraine
  • Ukraine crisis
  • EU
  • European Union
  • EU embargo
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?

Trending Now

All
A demonstration in Erfurt, central Germany, initiated by the Alternative für Deutschland (AfD) party against immigration policy. (AP)

YouGov: Very few Germans would take up arms to defend homeland

Most Read

Haaretz

Mossad agent killed in Italy part of anti-Iran mission: Israeli media

  • Europe
  • 3 Jun
US linguist Noam Chomsky, who was among 550 academics who signed the petition calling on Glasgow University to respect free speech (AFP)

Chomsky: EU will deindustrialize if it abides by US-run world order

  • Europe
  • 31 May
Singer Adele performs during the Oscars at the Dolby Theatre on Sunday Feb. 24, 2013, in Los Angeles. (AP)

Calls for Adele to cancel her 'Israel' concert

  • Palestine
  • 31 May
In Ukraine, is the US facing its own Suez moment? Its decline as an imperial power has been developing over decades. It has won small wars (Panama, Grenada) but has lost the big ones.

America’s Suez moment?

  • Opinion
  • 30 May

Read this

All
A man casts his vote for National Assembly elections at a religious school in Sabahiya district, Kuwait, Tuesday, June 6, 2023. (AP)
MENA

Polls open as Kuwait is set to elect its next parliament

  • Today
Iran’s first hypersonic ballistic missile Fattah (social media)
MENA

Iran unveils its first hypersonic ballistic missile

  • Today
Former Brazilian President Jair Bolsonaro gets into a car after speaking to the press outside his home after Federal Police agents carried out a search and seizure warrant in Brasilia, Brazil, Wednesday, May 3, 2023. (AP)
Latin America

Brazil's Supreme Court sets Bolsonaro trial date on June 22

  • Today
US President Joe Biden answers questions in the South Court Auditorium, next to the White House, in Washington, DC, on March 31, 2022. (AFP)
US & Canada

Reports say FBI has more evidence implicating Biden

  • Today
Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS