The European Parliament passed a resolution on Thursday demanding “an immediate full embargo on Russian imports of oil, coal, nuclear fuel and gas.” The bloc’s legislature also demanded Russia be completely cut off from the SWIFT banking network and booted from international organizations.
The resolution, which is not legally binding and only advisory in nature, passed by 513 votes to 22 and 19 abstentions. The total embargo on Russian energy that it demands goes well beyond the EU’s existing plan to reduce its reliance on Russian gas by two thirds before the end of the year, and to phase out Russian fossil fuels before 2030.
Such a move could have significant consequences across Europe. Russia supplies around 40% of the EU’s imported gas and 27% of its oil. Some countries are even more heavily reliant on Russian energy, with more than half of Germany’s gas and a third of its oil coming from Russia. While German Chancellor Olaf Scholz has expressed reticence at Russian President Vladimir Putin’s demand for paying for Russian gas with rubles, Foreign Minister Annalena Baerbock has warned that cutting off this vital energy source would grind the economy of Germany – Europe’s industrial powerhouse – to a halt.
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