Germany will stop importing Russian oil by the end of this year

This move took place in the context of The conflict in Ukraine has not cooled down yet. Specifically, the German foreign minister said that the country will halve its oil imports from Russia in the summer and completely reduce it by the end of the year, followed by gas. This plan is part of the common European roadmap.

According to Reuters, Russia accounts for about 55% of Germany’s gas imports and 35% of its oil imports. In March, Germany signed an agreement to buy liquefied natural gas (LNG) with Qatar, in the hope of being able to partly reduce its dependence on Russian gas.

However, experts also warn that Germany could face a significant increase in energy prices without supply from Russia.

While the US and some Eastern European countries in NATO have called for an immediate boycott of Russian energy in response to the military campaign in Ukraine, Germany still believes that such a hasty decision will cause too great economic damage. economic.

The European Commission last month confirmed that the EU aims to be completely independent of energy imports from Russia by 2027. The EU and the US previously also signed an agreement to supply more gas from Washington to Europe.

The US said it will work with international partners, trying to secure at least 15 billion cubic meters of LNG for the EU market next year and continue to increase in the future.

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