completely EU embargo on Russian oil imports It is now possible after Germany this week changed its stance on such a ban, says a report.
The retreat from Germany – which has been one of the main opponents of the European Union cutting off oil and gas trade with Russia – comes after Berlin struck a deal with Poland to import oil through one of its ports on the Baltic Sea, The Wall Street Journal reports.
Germany’s representatives to the European Union on Wednesday lifted their objection to a Russian oil embargo until the country had enough time to find alternative supplies, according to two German government officials who spoke to the newspaper.
The European Union is said to pay state-controlled Russian companies about $1 billion a day for energy.
In Germany, about 12% of its current oil consumption comes from Russian imports, down from 35% at the start of the Ukraine war, according to German Economy Minister Robert Habeck.
In the deal it struck with Poland, Germany would be able to receive oil from exporters docked at the Baltic port of Gdansk, which is connected to a Russian pipeline that transports crude to a refinery operated by Russian oil company Rosneft in Schwedt, Germany, the Wall Street Journal reports.
Schwedt’s refinery provides thousands of jobs for its region – and if Rosneft refuses to process non-Russian imports, Germany could put the refinery under state administration, the newspaper reported.