An embargo on Russian natural gas would seriously affect the German economy, as well as society, Labor Minister Hubertus Heil said in an interview with news outlet Funke, published on Saturday. “We should gradually become independent from gas imports, but the immediate imposition of an embargo would both complicate the …
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The president of the European Commission says EU nations continue to buy Russian oil despite pledging to fully cut energy dependence on Russia to prevent it from selling crude elsewhere at a steeper price. The explanation came after MSNBC host Mika Brzezinski pressured Ursula von der Leyen on why the …
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European Union member states have failed to agree on proposals to ban Russian oil imports, after more than 10 days of talks, with Hungary leading a group of countries resisting the measure, according to the EU foreign policy chief. Josep Borrell said: “we will do our best in order to …
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Germany is not yet ready for a total embargo on Russian gas, the country’s vice-chancellor and economy minister, Robert Habeck, said on Thursday. According to the official, Berlin still has a lot of work to do before taking such a step. Habeck said that a premature ban of Russian oil …
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The ban on imports of Russian crude proposed by the EU authorities will only raise Moscow’s oil revenues, according to Norbert Rucker, head of economics and next-generation research at Swiss wealth manager Julius Baer. The impact of the ban on Russia is “debatable,” the analyst said in an interview with …
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The European Union, this week, announced ambitious proposals to embargo the importation of Russian oil by the end of 2022. After teeth-pulling negotiations which have been met with strident objections from several member states, including Hungary and Slovakia, and public doubt over the impact of such measures, its Commission President …
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Russia’s Ministry of Industry and Trade on Friday published a list of goods allowed for parallel import into the country. The mechanism, which will circumvent the Western embargo on the export of goods to Russia by importing them from third party countries, will become effective on May 6. The list …
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The European Commission has proposed a sixth package of sanctions against Moscow on Wednesday, which includes an embargo on Russian oil. The new measures – which include a six-month phase out of Russian crude imports – were announced by the Commission’s President Ursula von der Leyen at the European Parliament …
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Hungary has denied a report in the German media which claims that the country is prepared to support an EU ban on Russian oil and gas in response to Moscow’s military campaign in Ukraine. Budapest affirmed its stance on the matter after German public broadcaster ZDF quoted sources as saying …
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Snubbing US Treasury Secretary Janet Yellen’s proposal to impose tariffs and thereby mitigate a global price spike, the European Union is preparing to embargo all imports of oil from Russia sometime next week, the New York Times reported on Friday, citing anonymous officials in Brussels. Ambassadors for the 27 member …
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