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German industry warns against Russian gas embargo

An embargo on Russian gas would hurt Europe and its industries, Christian Kullmann, the head of the Chemical Industry Association and CEO of Evonik Industries AG, Germany’s second largest chemical company, said on Saturday. “The industry is deprived of the air that it needs for breathing, or rather, the gas …

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Analysts warn of fall-out from Russian oil embargo

The Russian oil embargo is likely to add to the problems already facing both Russia and the European Union, analysts polled by Germany’s Der Spiegel.  Due to the ban on oil imports from Russia, which the EU introduced this week as part of the sixth round of Ukraine-related sanctions, inflation …

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EU not considering Russian gas embargo – economy chief

Discussions in the EU regarding further sanctions on Russia over the military operation in Ukraine so far do not include a ban on Russian gas, European Commissioner for Economy Paolo Gentiloni has revealed. In an interview with Italian newspaper La Stampa published on Saturday, Gentiloni said that while no punitive …

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Biden hints at benefits from EU’s Russian oil embargo

The US may try to buy some cheap Russian oil after the European oil embargo drives the price down, US President Joe Biden indicated on Wednesday. He aired the idea while talking to media about his administration’s plan to deal with the shortage of baby formula and surging prices for …

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EU plotting backup plan if oil embargo fails – media

The EU is reportedly considering imposing import tariffs on Russian crude if any members of the bloc refuse to implement the terms of the newly announced embargo on oil from the country, the FT reported on Wednesday. Earlier this week, EU member states reached an agreement on a partial ban …

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EU country warns of Russian oil embargo’s downside

The European Union ban on Russian oil will not be “a walk in the park,” but it was a “right and necessary” decision, Austrian energy minister Leonore Gewessler said on Tuesday as EU member countries agreed a sixth round of anti-Russia sanctions. Since Russia launched its military offensive in Ukraine …

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Russian gas embargo not on the table – Austria

The EU will not discuss a ban on Russian natural gas imports as part of the next round of Ukraine-related sanctions against Moscow, Austrian Chancellor Karl Nehammer disclosed on Tuesday. “The gas embargo will not be a topic, [German Chancellor] Olaf Scholz has made this clear as well,” Nehammer told reporters …

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EU fails to agree on Russian oil embargo

Finding an immediate EU consensus on banning Russian oil is unrealistic, according to Estonian Prime Minister Kaja Kallas. The leaders of the bloc gathered for summit in Brussels on Monday to resolve the issue. “I don’t think we’ll reach an agreement today,” Kallas said, adding it was more likely an …

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Russian gas embargo would dent Italy’s GDP – analysis

An embargo on Russian gas could lead to a serious shortage of fuel crucial for Italy’s industrial and service sectors, according to a study published on Saturday by the association of Italian industrialists Confindustria. “A possible blocking of natural gas imports from Russia, Italy’s main supplier in recent years, could …

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EU to stop short of full Russian oil embargo – media

The European Commission has suggested starting an embargo on Russian oil by giving up on seaborne deliveries, while delaying a ban on pipeline supplies, Bloomberg reported on Saturday, citing “people familiar with the matter.” The revised proposal was sent to the governments of member states on Saturday and could be …

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