The comments came as EU officials prepare to unveil the latest round of sanctions this week – which could include a call for a ban by the end of the year. It is the latest sign that German Chancellor Olaf Scholz has shifted his cautious approach to weaning the country from Russian energy, even if it comes at a financial cost. It has emerged that the EU can bypass opposition to the ban from Hungary and Slovakia, which are more dependent on Russian oil than even Germany, by offering exceptions for the couple. Economy Minister Robert Habeck said Germany would support a ban across the EU, whether the shutdown was imminent or by the end of the year. “Germany is not against the oil ban in Russia. Of course, it is a heavy burden to bear, but we will be ready to do it,” Mr Habeck told reporters in Brussels before talks with his counterparts in EU. Finance Minister Christian Lindner, a pro-business Free Democrat, said the German economy could tolerate an immediate ban. “With coal and oil, it is possible for Russian imports to give up now,” Lindner told WELT television. “It cannot be ruled out that fuel prices could rise.” Russian forces “move their dead at night” – Ukrainian news live Use the Chrome browser for a more accessible video player 3:07 Can the Germans afford to phase out Russian gas? New EU oil sanctions It comes as two EU diplomats said at the weekend that the bloc was pushing for a ban on Russian oil by the end of the year as part of a sixth package of sanctions against the country. The sanctions could include possible exceptions for countries such as Hungary and Slovakia, which are heavily dependent on Russian crude oil. EU officials have also warned that anyone complying with Moscow’s demands to pay their gas bills in rubles will violate existing sanctions. If the latest package includes an embargo on the Russian oil market, Moscow will be deprived of a significant revenue stream. Russia supplies 40% of the EU’s gas and 26% of its oil imports. “There will be price increases” Despite the concerns of some of the 27-member bloc, support for an oil ban by Europe’s largest economy signals resistance to such a proposal is waning. Prior to the Russian invasion of Ukraine in late February, Germany reduced its share of Russian oil in the country from 35% to 12%. Germany is now working to find alternative fuel supplies, particularly for Russian oil coming through a pipeline at a refinery in Schwedt, which supplies parts of East Germany, as well as the metropolitan area of Berlin. Mr Habeck, of the Greens, said there was “still no solution” on how to replace it. “We can not guarantee that the supplies will be continuous,” he added. “Certainly there will be price increases and there will be some breaks. But that does not mean we will slip into an oil crisis.” Image: Mr Habeck said Germany would support an immediate ban Image: Mr Lindner said the economy could tolerate a ban Mr Habeck said it would “help to have weeks or months to do all the technical preparations” before the ban was lifted. UK ban ‘symbolic’ Greenpeace described the UK ban on Russian ships owned or operated as “symbolic”, with eight tankers carrying 220 220m worth of oil arriving in Britain from the start of the invasion. Russia supplies 18% of the UK diesel, which is mainly used in cars and heavy transport, as well as in agricultural and fishing vehicles. Follow the Daily Podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker The United Kingdom has pledged to phase out Russian oil by the end of the year in a bid to stifle “a valuable source of revenue” for Moscow. Greenpeace said the ban would come too late at the end of the year, with the agency’s analysis showing how much money could reach Moscow before the ban began. Russia has demanded that oil payments be made in rubles in a bid to support a hard-hit currency that has been hit hard by sanctions.
