The European Commission finalizes the sixth package of sanctions against Russia, in retaliation for the “illegal & rdquor; thrown against Ukraine more than two months ago. A new round in which they have been working for weeks, which could be presented this Tuesday to the college of commissioners and which will finally affect the Petroleum.
The proposal, intended to continue hitting the main source of financing for the Kremlincomes after the decision of Moscow of cutting off gas supplies to Poland and Bulgaria and the political turn of Germany or Austria who, after weeks of dragging their feet, have confirmed their willingness to support the veto on Russian oil.
Although the final details are not yet known, the idea, according to the FT, would be to apply a more gradual ban than for the Coal – whose embargo will be effective in August – which would apply from now until the end of the year and with exceptions for countries such as Hungary either Slovakia whose infrastructures are prepared to refine Russian oil but have no other alternatives. In any case, it is a measure that Poland and the three Baltic countries have been demanding since the beginning of the Russian offensive due to the important source of income it represents for Vladimir Putin but to which other capitals resist due to its economic impact.
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“We have had a fairly strong dependence on Russian oil in the past. Before the war began it was 35%. Now we have reduced it to 12% and we only have one refinery left that only works with Russian oil & rdquor ;, he explained the German Vice Chancellor and head of Economy, Robert Habeckupon arrival at the extraordinary meeting of energy ministers held this Monday in Brussels. The problem is that this 12% affects the Berlin region and that without “enough time & rdquor; to look for alternatives could lead to “a price increase and perhaps complications with the supply chain & rdquor ;.
Hence the need for “weeks or months & rdquor; to prepare properly but has made it clear that Berlin is willing to take the plunge. “After two months of work, I can say that Germany is not against a veto against Russian oil. Of course, it would be a heavy burden to bear, but we are ready to take it,” he said in harmony with Austria. “If the EU and its member states decide on an oil embargo against Russia, Austria is ready to support it. We have worked hard these recent months to reduce our share of Russian oil and we have not imported more in March & rdquor ;, said the Austrian lenore gewessler.
Missing approval of the 27
In order for the decision to go ahead, it will first have to obtain the endorsement of the Twenty-seven unanimously and, therefore, with the support of a Hungary which has warned that it will block the measure if it does not obtain supply guarantees. A debate that is also influenced by the fear that Moscow will completely close the gas tap, replicating the decision to cut off the supply to Poland and Bulgaria for not complying with the new payment system imposed by Vladimir Putinsomething that represents a turning point according to Brussels and a warning that any Member State can be the next.
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“It is an act that breaks the contracts that have been negotiated and it is unacceptable. We will continue to pay in euros the contracts that have been stipulated in euros and in dollars those that have been stipulated in dollars. We cannot accept this type of maneuvers & rdquor ;, the French minister has settled, Barbara Pompili, after the meeting of the Twenty-seven. 97% of the contracts that European companies have are in dollars or euros and only 3% are in another currency, although the bulk is in pounds sterling and not in rubles.
The energy commissioner Kadri Simson, explained that they have already published guidelines and that the legal analysis is clear: “paying in rubles, as Russia requires, would be violating the sanctions” but “in the coming days we are going to offer clearer guidelines on what companies can do and what they can’t”, he said, urging governments to update their contingency plans, negotiate bilateral solidarity agreements and fill underground tanks with gas, which are at 32%, to prepare for an eventual total cut by Russia.