Germany backs phased ban on Russian oil

Germany backs phased ban on Russian oil

The German government has said it backs a phased-in ban on Russian oil imports into the EU, as officials in Brussels try to seek consensus on an embargo as part of the latest package of sanctions against Moscow.

Jörg Kukies, one of chancellor Olaf Scholz’s closest advisers, said Berlin was in favour of an oil embargo, but needed a “few months” to prepare for an end to Russian crude shipments.

“We’re asking for a considered wind-down period,” he told the Financial Times. “We want to stop buying Russian oil, but we need a bit of time to make sure we can get other sources of oil into our country.”

The European Commission is drawing up a sixth package of sanctions against Russia over its war against Ukraine, now in its third month. The measures are expected to target Russian oil, and Russian and Belarusian banks, as well as more individuals and companies.

More than a quarter of the EU’s imported crude oil comes from Russia and commission officials have been meeting member state ambassadors one-on-one this weekend in an effort to find a rough consensus on the terms and details of any move to curb Russian oil imports. They hope to draft a formal proposal