- Title: FILE: Germany prepares for Russian oil embargo
- Date: 4th May 2022
- Summary: FRANKFURT, GERMANY (FILE - MARCH 1, 2022) (REUTERS) VARIOUS OF DISPLAY AT PETROL STATION SHOWING FUEL PRICES CARS DRIVING BY SCHWEDT, GERMANY (FILE - MARCH 9, 2011) (REUTERS) VARIOUS OF REFINERY PLANT OF PETROCHEMICAL PLANT PCK SCHWEDT VARIOUS OF LARGE TANKS WITH DIFFERENT TYPES OF FUEL FUEL TRUCK DRIVING OFF BERLIN, GERMANY (FILE - NOVEMBER 13, 2022) (REUTERS) VARIOUS OF FUEL TRUCK BEING FILLED WITH OIL DISPLAY SHOWING HEATING OIL FILLING VOLUME SCHWEDT, GERMANY (FILE - APRIL 14, 2022) (REUTERS) DRONE IMAGES OF PETROCHEMICAL REFINERY PLANT PCK SCHWEDT EMLICHHEIM, GERMANY (FILE - MARCH 9, 2022) (REUTERS) VARIOUS OF OIL DRILLING PLANT OIL PUMP VARIOUS OF OIL DRILLING PLANT AND WIND TURBINES AT SUNDOWN GDANSK, POLAND (FILE - APRIL 29, 2022) (VIDEO OBTAINED BY REUTERS) DRONE IMAGES OF GDANSK HARBOUR SCHWEDT, GERMANY (FILE - APRIL 14, 2022) (REUTERS) VARIOUS OF PETROCHEMICAL REFINERY PLANT PCK SCHWEDT GDANSK, POLAND (FILE - APRIL 29, 2022) (REUTERS) GDANSK HARBOUR VARIOUS OF SHIPS IN HARBOUR GDANSK, POLAND (FILE - MARCH 29, 2022) (VIDEO OBTAINED BY REUTERS) DRONE IMAGES OF GDANSK HARBOUR
- Embargoed: 18th May 2022 08:51
- Keywords: European Union Russian oil embargo Schwedt Ukraine crisis energy prices refinery
- Location: FRANKFURT, SCHWEDT, EMLICHHEIM, BERLIN, GERMANY/GDANSK, POLAND
- City: FRANKFURT, SCHWEDT, EMLICHHEIM, BERLIN, GERMANY/GDANSK, POLAND
- Country: Germany
- Topics: Conflicts/War/Peace,Europe
- Reuters ID: LVA001564304052022RP1
- Aspect Ratio: 16:9
- Story Text: The German government is preparing for an embargo on Russian crude oil proposed by the European Commission.
The EU executive on Wednesday (May 4) proposed a ban on EU imports of Russian crude oil within six months, and on refined oil products by the end of the year.
Hungary and Slovakia will be able to continue buying Russian crude oil until the end of 2023 under existing contracts, an EU source told Reuters.
In a bid to convince reluctant countries not to veto the proposal, Brussels has proposed a longer period to implement the embargo for Hungary and Slovakia, the source said, declining to be named because of the sensitivity of the matter.
The exception would concern existing contracts for crude oil signed by Hungary and Slovakia with Russia.
The Commission's proposal is under discussion. It needs the backing of all EU governments to be adopted. A meeting of EU envoys started at 0730 GMT on Wednesday to debate the matter.
Two senior ministers in Chancellor Olaf Scholz's government on Monday (May 2) said Germany would be ready to back an immediate European Union ban on Russian oil imports, and that Europe's biggest economy could weather shortages and price hikes.
Germany cut the share of Russian oil to 12% from 35% before Russia invaded Ukraine on Feb. 24.
It is working on finding alternative fuel supplies, most urgently for the Russian oil that comes by pipeline to a refinery in Schwedt operated by Russian state company Rosneft.
(Production: Gabriele Sajonz, Ulrike Heil) - Copyright Holder: FILE REUTERS (CAN SELL)
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