A full embargo on Russian hydrocarbons is impossible for Europe, says Barbara Pompili
French Minister for Ecological Transition, Barbara Pompili, who was speaking today under the French Presidency of the Council of the European Union (EU), during a visit to the UN in New York, confirmed that the Twenty-Seven were going to take “very heavy measures, since by the end of the year [on doit] succeed in doing without two-thirds of our imports” of Russian gas.
She argued that the EU might not impose a complete embargo on their imports of Russian hydrocarbons, as decreed by the United States. The United Kingdom has pledged to achieve this by the end of the year.
According to Ms. Pompili, who is due to meet Energy Minister Jennifer Granholm in Washington on Thursday, “President Biden said himself that the situation in the United States and in Europe was not comparable and that he did not intend to ask us to make the same kind of decision”.
Russian oil represents only 8% of American imports and the United States does not import gas from Russia. The much more dependent EU is not ready to follow them.
To reduce European dependence – Russia accounts for 45% of European imports of gas and coal and 25% of those of oil – without jeopardizing the economy of the most exposed countries, Brussels has proposed to the Twenty-Seven to diversify their supplies, increase their reserves and reduce their energy consumption.
The roadmap will be discussed Thursday and Friday by the heads of state and government meeting at the summit in Versailles. They should commit to ” get out of [leur] dependence on imports of Russian gas, oil and coal”but without a timetable, according to draft conclusions consulted by AFP.
“This geopolitical crisis will last and that is why (…) taking measures which would have a very heavy impact immediately on our economies risks destabilizing our societies” once more warned Ms. Pompili for whom “You can’t go from 40% to nothing in five minutes”.