Germany worries EU will lose unity because of Russia sanctions
On May 29, Germany’s Economy Minister expressed concern that EU solidarity was “starting to break down” ahead of a conference to discuss the Russian oil embargo.
“After Russia’s military campaign in Ukraine, we have seen what can happen when Europe is united. In tomorrow’s summit, let’s hope it continues like that. But it does. has begun to fall apart,” Minister Robert Habeck said at a news conference.
European Union (EU) leaders will meet on May 30 and 31 to discuss a new package of sanctions against Russia, which could include an oil embargo and a program to help The bloc quickly ended Moscow’s dependence on fossil fuels.
German Economy Minister Robert Habeck speaks at a news conference in Paris, France, in February. Image: Reuters.
On May 27, European countries reached a ban on shipping Russian oil by sea, but still allowing transit through pipelines. This is a compromise move with Hungary and is expected to open the door for new stronger sanctions packages against Russia in the future. Hungary has announced that it does not support the EU’s proposal to ban Russian oil because it believes that this option will destroy national energy security.
Minister Habeck called on Germany to keep a firm voice at the upcoming conference instead of abstaining due to differences of opinion in the governing coalition regarding the option of sanctions against Russia. He also called on other EU countries to show similar solidarity.
“Europe is still a huge economic region with incredible economic strength. And when united, it can exert that strength,” he stressed.
The EU imports 3 – 3.5 million barrels of Russian oil per day, with payments of about 400 million USD per day. Russian supply accounts for about 27% of the bloc’s oil imports. According to the International Energy Agency, oil and gas revenues account for 45% of Russia’s federal budget in 2021.
Vu Hoang (Follow Reuters)
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