Many of the ministers who met in Luxembourg showed support for sanctions on Russian oil imports, said top EU diplomat Josep Borrell, but for others, such a ban would be an “asymmetric shock”, he said. The bloc has agreed, however, to intensify arms deliveries to Ukraine, Germany said. “They are now working to ensure that oil is part of the next package of sanctions,” Irish Foreign Minister Simon Cowney told the European Commission. Sign up now for FREE unlimited access to Reuters.com Register Targeting Russian oil, which accounts for about a quarter of EU crude imports, is seen as the EU’s next step as it seeks to pressure Russia to stop bombing Ukrainian cities after Moscow’s invasion of Ukraine on 24 February. Galvanized by what Ukraine says are irrational killings of civilians by Russian troops after the invasion, the bloc last week approved a fifth round of sanctions on Russia that included ending Russian coal imports. Russia has denied that it targeted civilians in what it calls a “special operation” to oust its southern neighbor. “Nothing is off the table, including sanctions on oil and gas,” Borrell said. He has said in the past that an embargo must happen “sooner or later”. The European Parliament voted in favor of the embargo last week, although its decision is not binding. “COORDINATED PLAN” European Commission President Ursula von der Leyen said on April 5 that she was considering additional sanctions, including on oil imports, based in part on proposals from EU governments. petroleum products. Borrell said EU states are also working independently to reduce their dependence. Any oil embargo is based on both the technical details of the scope and timing of such a move and the support of the 27 EU Member States. Energy dependence varies across the bloc, with countries such as Bulgaria being almost entirely dependent on Russian oil. . Hungary has said it cannot support an oil embargo. Germany’s position as the EU’s largest economy will be crucial. While offering Ukraine more weapons, German Foreign Minister Annalena Baerbock called for a “coordinated plan to completely eliminate fossil fuels” from Russia. EU diplomats have said that Berlin does not actively support an immediate embargo. The United States and Britain have banned Russian oil, hoping to cut off a major source of revenue for Moscow. The decision is more difficult for Europe’s economy because of its dependence and could raise already high energy prices. Sign up now for FREE unlimited access to Reuters.com Register Report by Robin Emmott and Bart Meijer, additional by Paul Carrel, edited by Ed Osmond and Susan Fenton Our role models: The Thomson Reuters Trust Principles.
