In the seventh package of measures, the Ukrainian side wants the European Union to impose a total ban on Russian energy. “What do we want to see included in the seventh round of sanctions? Of course, only time will tell, but we’re talking about a total ban on Russian energy, i.e. pipeline oil, which will … Read more
Russia said Wednesday that it was taking steps to mitigate the impact of an EU oil ban, as its other key energy export, gas, has fallen since President Vladimir Putin dispatched troops to Ukraine. At a summit on Monday, the EU agreed to a sixth package of sanctions against Moscow, which will halt the majority … Read more
Germany announced on Sunday that it has made significant progress in lowering its dependency on Russian energy, a strategic change that the European Union’s largest economy has been doing since Russia invaded Ukraine. Russian supplies now make up 12 percent of Germany’s oil imports compared to 35 percent previously, the economy ministry said in a … Read more
The International Energy Agency and the European Commission said Thursday that adjusting the temperature and working more from home are only two of the “small actions” that might help Europe lessen its reliance on Russia. The European Union is scrambling to find alternatives to Russian energy after Moscow’s invasion of Ukraine since Russia currently supplies … Read more
FRANKFURT: The sudden cessation of Russian energy supplies will plunge Germany into a “sharp recession” next year, prominent economic forecasters predicted Wednesday. Germany, which relies heavily on Russian gas, has so far rejected demands for a European embargo. A 1.9 percent growth in 2022 and a 2.2 percent contraction in 2023 are predicted if the … Read more
