The European Union is preparing new sanctions against Russia. “We are working on a sixth sanctions package and one of the issues we are considering is some kind of oil embargo. If we are going to impose sanctions, we need to do it in a way that maximizes the pressure on Russia and minimizes the collateral damage we have minimized.” “, said Valdis Dombrovskis, vice-president of the European Commission, to the British newspaper The Times.
However, EU foreign policy chief Josep Borrell currently sees insufficient support among member states for an embargo on Russian oil and gas. This also applies to alternative sanctions, such as a punitive tariff on Russian oil and gas supplies. Borrell told this to the German daily newspaper “Die Welt” (Monday). He believes an oil and gas import ban or a punitive tariff is important in putting pressure on Russian President Vladimir Putin and bringing him to the negotiating table. “But at the moment we in the EU don’t have a united position on this issue.”
The topic will be discussed again at the next EU summit at the end of May, and the discussion will continue until then. Some member states “have said very clearly” that they would not support an embargo or a punitive tariff. A final proposal, therefore, “is not yet on the table”.
approved coal embargo
Because of the Russian attack on Ukraine, the EU has already decided to ban Russian coal imports and imposed unprecedented new sanctions. There is also constant discussion about an immediate exit from Russian gas or oil. The Ukrainian government is demanding this from EU states to make it more difficult for Russia to finance the war. However, Austria, Germany and other countries have so far avoided a full energy embargo against Russia because of its heavy dependence on Russian energy sources for fear of economic damage.
The EU has already drastically reduced its dependence on Russian energy supplies in just a few weeks, Borrell said. “We need sufficient alternative sources of gas supply if we are to run out of Russian gas. At some point the time will come, and then Russia will painfully feel that the revenue from the oil and gas business will be lost.”