After the European Union delegates failed to reach an agreement on banning Russian oil imports, countries express their support for the embargo and many countries reject it because of its consequences on their economies.
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Differences between the West and its partners in the Russian oil embargo
Several countries – including countries that participated in imposing sanctions on Russia – fear their economies following the European Union proposed imposing the sixth package of sanctions once morest Russia once morest the background of its military operation in Ukraine, which includes sanctions on the import of Russian oil, in addition to bans on military and religious figures, And the separation of several Russian banks from the global “SWIFT” system.
After the meeting of the ambassadors of the 27 member states of the European Union yesterday, the permanent delegates failed to reach a conclusion Agreement on a ban on Russian oil imports During the negotiations that continue until Thursday on this issue, the positions of the European countries and the countries that participated in the sanctions once morest Russia were divided between supporters and opponents.
Yesterday, Wednesday, US Treasury Secretary Janet Yellen warned that the European Union’s move to cut off Russian oil imports might raise world prices“We want to work with Europe to ensure that demand is met,” she added.
France
On Thursday, French Environment and Energy Minister Barbara Pompele said she was confident that European Union member states would reach a consensus on banning Russian oil imports within days.
“Some countries depend more on Russian oil than others, so we must try to find solutions so that they can join these sanctions…but we have to do that,” Bombelli told France Info radio.
Austria
Although Austria expressed yesterday its support for imposing the sixth package of new European sanctions on Russia, its Foreign Minister Alexander Schallenberg said: “Europe wants sanctions that hurt Russia and not sanctions that weaken us more than Russia.”
Schallenberg pointed out that “the oil embargo on Russia will affect the member states of the European Union unevenly, as not all of them depend equally on Russian oil,” stressing that “the gas embargo is not currently under discussion.”
In turn, the head of the Austrian oil and gas company “OMV” Alfred Stern confirmed today, Thursday, that Europe is not ready to impose a ban on gas supplies from Russia, and that stopping supplies will have significant repercussions on the industry and the economy.
Stern said in an interview with the Austrian newspaper “Kurier”: “I do not think that today we are ready to impose a ban, unless we are ready to face the consequences. There is something that must be clearly understood, which is that providing gas to us is not through local production in Europe, but through supplies from Russia.
The head of “OMV” considered that “the suspension of supplies will have wide-ranging consequences for the industry and the economy.”
Japan
For his part, Japanese Minister of Economy, Trade and Industry Koichi Hagiuda said today, Thursday, that Japan will face “difficulty” to act immediately to reduce Russian oil imports.
Hagiuda made these remarks during a visit to Washington, and Hagiuda told reporters, “Given the limited resources available to Japan, we will have difficulty in taking the step of banning Russian oil immediately.”
Russian oil imports accounted for 4% of Japan’s total oil imports in the last fiscal year, which ended last March. Natural gas imports from Moscow amounted to 9% of the total Japanese imports, while imports of Russian coal amounted to 11%.
Slovakia
Several countries in the European Union are seeking not to ban Russian oil because of its repercussions on the economy and the high level of inflation in their countries.
On Wednesday, Slovak Energy Minister Karol Galic warned that a ban on Russian oil imports would be… devastating to the European economyHe warned that his country “would not be able to agree to the European Commission’s current scheme to impose a ban on Russian oil imports,” and called for more time to find alternative energy supplies.
Slovakia is seeking To obtain exemption from any ban On Russian oil, the European Union agrees on its next set of sanctions once morest Moscow.
Germany
For his part, German Economy Minister Robert Habeck explained, on Wednesday, that a gradual European ban on Russian oil imports might lead to ‘Disturbances’ in supplies And the rise in prices, but he supported the project as a necessary step to punish Russia, as he put it.
“We were able to reach a solution that would enable Germany to withstand the oil embargo,” Habeck said in a press conference.
The head of the major German energy company EON, Leonhard Birnbaum, said:Germany is unlikely to survive In the next two winters, without supplying it with Russian gas imports.”
He continued, “Without Russian gas, the German industry and economy will be harmed,” adding, “We will no longer have the steel industry or the chemical industries…and the consequences will be dire.” He concluded, “I can only warn regarding the ban on Russian gas.”
Czech
The Czech Minister of Industry, Josef Sekila, confirmed last Wednesday that the proposed European embargo on Russian oil would be a problem.
“The proposed European ban on Russian oil does not include how the burden will be shared,” Sekela said.
India
India on Wednesday defended its continued purchases of Russian oil, saying it was part of a long-term effort to diversify its supply, and arguing that an abrupt halt in imports It will raise world prices It harms local consumers.
In a statement, the ministry said that if India, as a huge buyer of crude oil, now abruptly withdraws from its diversified sources and focuses on the remaining sources in an already constrained market, it will “lead to more volatility, instability and a sharp increase in international prices.”
A few days ago, the Indian Finance Minister, Nirmala Sitharaman, said that her country… Will continue to buy oil from Russia At discounted prices, she said India’s interest and energy security were “at the forefront of any considerations.”
