Germany to Stop Russian Oil Imports by Year End

 

Germany will cut off Russian oil imports by the end of 2022, a move that comes as European leaders discuss new energy sanctions against Russian oil over Moscow’s invasion of Ukraine, reports The National Review.

“I therefore say here clearly and unequivocally yes, Germany is also completely phasing out Russian energy imports,” German Foreign Minister Annalena Baerbock said Wednesday after a meeting with representatives from the Baltic states.  

“We will halve oil by the summer and will be at zero by the end of the year, and then gas will follow, in a joint European roadmap, because our joint exit, the complete exit of the European Union, is our common strength,” she added.  

Germany’s employers and unions on Monday joined together in opposing an immediate European Union ban on natural gas imports from Russia, saying such a move would lead to factory shutdowns and the loss of jobs in the bloc’s largest economy.

“A rapid gas embargo would lead to loss of production, shutdowns, a further de-industrialization and the long-term loss of work positions in Germany,” said Rainer Dulger, chairman of the BDA employer’s group, and Reiner Hoffmann, chairman of the DGB trade union confederation, in a joint statement Monday on Germany’s dpa news agency.  

Ukraine leaders say revenues from Russia’s energy exports are financing Moscow’s war and must be ended.

That won’t be easy to do. The EU’s 27 nations get around 40% of their natural gas and around 25% of their oil from Russia. Natural gas would be the most difficult do without, energy analysts say, since most of it comes by pipeline from Russia, while supplies of liquefied gas, which can be transported by ship, are limited amid strong demand worldwide.

Germany on April 7 banned Russian coal imports beginning in August and in February suspended the approval process for the Nord Stream 2 pipeline in response to Russia’s invasion.

 

https://www.newsmax.com/newsfront/germany-russia-oil-war/2022/04/20/id/1066495/