Germany may stop importing Russian oil this year

“We are actively working to end Russian oil imports and we think that can be achieved this year,” he said. German Chancellor Olaf Scholz said during a press conference in London with British Prime Minister Boris Johnson.

The European Union (EU) has just approved new sanctions against Russia, including a ban on coal imports starting in August. Germany has stepped up efforts to reduce dependence on Russian energy imports after Moscow’s military operations in Ukraine.

Russian oil now accounts for 25% of German imports, before Russia attacked Ukraine it was 35%. Meanwhile, gas imports have been cut from 55% to 40%. Germany’s coal imports from Russia have also fallen from 50 percent to 25 percent.

According to Reuters, stopping Russian gas imports is more difficult for Germany, which in the first quarter received 40% of its gas deliveries from Russia. Germany wants to cut its share of Russia’s gas market to 24% this summer. However, it may not be until the summer of 2024 that Europe’s largest economy will end its dependence on Moscow’s gas.

In a study published on April 8, the DIW Economic Institute said that Germany can ensure sufficient gas supplies for next winter without importing from Russia through a combination of alternative suppliers. , as well as taking drastic energy-saving measures.

The study says Norway and the Netherlands can fill the void left by the Russian gas import ban. Supply can be ensured through the transportation of LNG from ports in Belgium, the Netherlands and France.