Minister of Finance: Germany is ready to agree to an oil embargo on russian oil
The Minister also made it clear that Germany will not pay for russian gas in rubles
Germany is ready to agree to impose an oil embargo on russian oil, said the country's finance minister.
“Germany stands ready for new sanctions, including an oil embargo,” Christian Lindner told CNN.
“We have prepared ourselves to be less dependent on russian energy imports. It takes time to reduce the dependency, it was a mistake to be dependent in this way but we are making progress. We can reduce the imports, starting with coal, then oil. It will take more time to independent from russian natural gas imports but will continue so in the end we will be completely independent from russia," he said.
Speaking about the oil embargo negotiations, Lindner said he did not want to speculate on whether EU member states, such as Hungary, would have to given exemptions or carve outs from an oil embargo.
“I can assure you that Germany is ready to reduce oil imports, we know others are considering this question carefully," he said. “We make these decisions together, it is in our best interests, all the world’s democracies share these interests.”
The minister also made it clear that Germany will not pay for russian gas in rubles.
“Germany can’t be blackmailed," he said. “Contracts are contracts, and all these contracts are based in payments in dollars or euros. So German contractors should pay in euro or dollar. This is the situation of the contracts and we do not change because putin needs rubles for his war chest.”
russia cut off gas supplies to Poland and Bulgaria last week after their refusal to pay in rubles.
Gas distribution companies in Germany and Austria told CNN that they are working to make payments for gas in rubles. Hungary's foreign minister also told CNN that his country would pay for oil and gas in rubles.
Previously. Earlier the German Chancellor Olaf Scholz said that the EU will stop importing russian coal starting from the summer and will give up oil by the end of the year.
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