Europe ‘too dependent’ on Russian gas says von der Leyen
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The bloc is eyeing up a fifth round of sanctions and has indicated it will come down tough on Russia after evidence of alleged war crime in Bucha emerged this week. Energy sanctions appear to be at the top of the list, but the bloc is massively reliant on Russia’s fossil fuels and has been handing the country billions for imports. The EU imported a staggering €48.5billion (£38billion) of crude oil in 2021, and €22.5billion (£19billion) of petroleum oils other than crude.
While several key figures within the union are ready to slap a ban down on Putin’s oil empire, the bloc is still yet to take action as a furious bust-up shakes up the EU.
German MEP Manfred Weber has called for an immediate ban on the fossil fuel, as well as a gas ban on Russia “as soon as possible”.
The head of the European People’s Party (EPP) told Politico: “We cannot continue financing the Putin system waging this horrible war.”
He added that “as the Russian crimes continue” the EU must “take the next step to stop” Putin.
France has echoed the calls to stop importing Russia’s oil as Putin continues to rake in huge profits from the energy source.
President Emmanuel Macron said that banning Russian oil and coal would be “particularly” damaging to Moscow.
EU Affairs Minister Clément Beaune, also from France, said on Tuesday that oil sanctions were essential for stopping Russia as it “brings in even more foreign currency in total than gas.
He added that “hitting oil, if I may say so, is very important”.
But these demands have not been met too kindly by other negotiators in Europe, who fear slashing ties with Russian oil could cause economic chaos.
On Tuesday, Germany, Austria and Hungary managed to exempt oil from a sanction package after arguing including it would ramp up inflation.
But European Commission President Ursula von der Leyen has now promised that Brussels is “working on additional sanctions, including on oil imports.”
And Mr Macron did not make any mention of Russia’s gas, which makes up over 20 percent of France’s supplies.
While the bloc may have paid far more for oil than it did for gas, handing Russia €16.3billion (£13.5billion) in 2021, it depends on Russian gas for 45 percent of its total supplies.
Sanctioning Russia’s gas is sending tension soaring within the bloc.
Germany, which is particularly dependent on Russian gas, has been particularly reluctant to ban it.
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German Finance Minister Christian Lindner rejected an EU embargo on gas on Monday.
Mr Lindner said in Brussels: “It is clear we must end as quickly as possible all economic ties to Russia.
“We must plan tough sanctions, but gas cannot be substituted in the short term. We would inflict more damage on ourselves than on them.”
Poland, on the other hand, has put forward the most “radical” plan to ban all of Russia’s fossil fuel imports, Prime Minister Mateusz Morawiecki stressing the need to move away from “Russian hydrocarbons – Russian oil, Russian gas and Russian coal”.
He was furious at Germany’s reluctance to hold a tougher stance on Russia, even pointing out that Hungary, which has typically been one of the friendlier EU countries towards Russia, was not blocking sanctions.
And Lithuania took a major step by being the first EU country to cut off Russia’s gas completely.
While gas remains a contentious issue, it appears cutting out the less valuable coal has largely been agreed upon.
The EU paid Russia €5.2billion for coal in 2021 (£4.3billion), making it one of the cheaper energy sources.
Now, a new sanctions package on coal has been put forward to the bloc.
The measures involve phasing out coal deliveries, banning Russian vessels and truck from entering the EU.
It also involves harsher sanctions on four key Russian banks, which will be totally cut off from the markets.
But it won’t make a dent if the bloc continues to import gas and oil.
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