Brussels, Europe Brief News – The European Union’s foreign ministers are disagreeing with Russian oil sanctions. Russia continues to remain the villain due to the invasion of Ukraine. They will not let go of this situation easily. Some allies and the EU have imposed strict restrictions and measures against Russia. It even involves freezing their central bank assets.
Recently the siege and bombardment of the Mariupol port have made the situation worse. According to foreign policy Chief Josep Borrell, this is a ‘massive war crime that calls a pressure for action. However, the 27 blocs have not yet taken any action against the oil ban. On the other hand, Scholz is trying to put an end to it by pressure mounts against the ban.
European Union wants to side with the US and ban the Russian oil import. It is a way to put pressure on President Vladimir Putin after the invasion of Ukraine. The problem is that there is a division of opinion among various nations. Germany and Poland don’t seem to be convinced with this idea at all. Even though intense discussions are taking place behind closed doors, there is no solid conclusion.
German Chancellor Olaf Scholz Rules Out Restrictions Over Russian Oil Sanctions
German Chancellor Olaf Scholz doesn’t want to put any restrictions on Russia as of now. He feels that imports are an essential part of the European economy. Whether it is heating, transport, and electricity, it is not easy to secure them without the imports. According to him, such decisions cannot be taken overnight.
The difference of opinion among European ministers may not end any time soon. There is no clear sign or tangible proposal that can work in everyone’s favor. Germany is the first one to come with a refusal and they don’t want to send any weapons to Ukraine either. The violence in Ukraine seems to reach its peak but it doesn’t seem they will get any help from the European nations. No matter what happens, EU nations will probably make a decision that is based on unanimity. For now, they will not take a look at other principles.
As the US is discussing putting a ban over Russian oil sanctions the price has soared drastically. Most oil buyers are already stepping out and not interested to purchase any of Russia’s products. If a ban continues on Russian imports, it can benefit exporters from other countries. It can also boost Moscow’s revenue by a huge margin.
