- Commission prepares grounds for embargo
- Ireland, Baltic States for, Hungary against
- Governments fear rising energy prices
LUXEMBOURG, April 11 – The European Union executive is drafting proposals for an EU oil embargo on Russia, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, despite no agreement on a ban on Russian crude.
Many of the ministers meeting in Luxembourg showed support for sanctions on Russian oil imports, said EU top diplomat Josep Borrell, but for others such a ban would come as an “asymmetric shock”, he said. However, the bloc agreed to step up arms sales to Ukraine, Germany said.
“They are now working to ensure that oil is part of the next package of sanctions,” said Irish Foreign Minister Simon Coveney of the European Commission.
The attack on Russian oil, which accounts for about a quarter of EU crude imports, is seen as the EU’s next step to pressure Russia to stop shelling Ukrainian cities after Moscow’s February 24 invasion of Ukraine.
Fueled by what Ukraine describes as the senseless killings of civilians by Russian forces since the invasion, the bloc last week approved a fifth round of sanctions against Russia that included an end to Russian coal imports.
Russia has denied targeting civilians as part of a “special operation” to “denazify” its southern neighbor.
“Nothing is off the table, including oil and gas sanctions,” Borrell said. He has previously said that an embargo must happen “sooner or later”. The European Parliament voted in favor of an 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, partly on the basis of proposals from EU governments. Such ideas include tariffs on Russian oil or a ban on some oil products. Borrell said EU countries are also working independently to reduce their dependency.
Any oil embargo depends both on the technical details of the scope and implementation time of such a step, as well as on the support of the 27 EU member states. Energy dependency varies within the bloc, with countries like Bulgaria almost entirely dependent on Russian oil. Hungary has said it cannot support an oil embargo.
Germany’s position as the largest economy in the EU will be crucial. While offering Ukraine more weapons, German Foreign Minister Annalena Baerbock called on Russia to come up with a “coordinated plan to phase out fossil fuels completely.” EU diplomats said Berlin does not actively support an immediate embargo.
The United States and Britain have banned Russian oil in hopes of cutting off a significant source of revenue for Moscow. The decision is more difficult for the European economy due to its dependency and could push up already high energy prices.
Reporting by Robin Emmott and Bart Meijer, additional reporting by Paul Carrel, editing by Ed Osmond and Susan Fenton