WSJ: Germany is no longer blocking the Russian oil embargo and is ready to support such sanctions

Author:
Oleksiy Yarmolenko
Date:

Germany is no longer blocking the embargo on Russian oil, paving the way for the EU to ban oil imports from Russia.

This was reported by The Wall Street Journal, citing sources.

Berlin has been one of the main opponents of sanctions on EU oil and gas trade with Moscow. However, on Wednesday, Germanyʼs representatives in the EU institutions withdrew the countryʼs objections to a full embargo on Russiaʼs oil, provided that Berlin has enough time to secure alternative supplies.

Changes in Germany increase the likelihood that EU countries will agree on a phased embargo on Russian oil. According to diplomats and officials, a solution is possible next week. However, the question of how quickly the European Union will stop buying Russian oil and whether it will also use price or tariff restrictions is still under discussion. The United States is pressuring its European allies to avoid steps that could lead to sustained increases in oil prices.