On Monday, German Finance Minister Christian Lindner said the European Union (EU) would not be able to function without Russian gas supplies.
The politician made this statement as the EU prepared to impose further sanctions against Russia following the events in Bucharest.
The question is whether the latest set of sanctions will have an impact on Russian gas, oil and coal exports.
“Right now, it is not possible to cut off gas supplies. We need some time, so we need to differentiate between oil, coal, and gas right now, “Linder said upon arrival at the EU finance ministers’ meeting held in Luxembourg.
The German minister also stated that the suspension of Russian oil and coal imports would be more detrimental to European countries than to Moscow.
Germany is particularly reliant on Russian gas, and the minister emphasized that his country wants to be less reliant on Russian energy supplies in the near future.
According to Georgia On-Line, “Germany gets 55 percent of its natural gas from Russia, 35 percent of its crude oil from Russia, and 45 percent of its coal from Russia.”
When asked if the current wave of sanctions being prepared by Brussels will include limits on Russian oil imports, Economic Vice President Valdis Dombrovskis of the European Commission (EC) responded, “nothing is off the table.”
On Wednesday or Thursday, we could accept the fresh bundle of measures.