Germany: Feasible abandonment of Russian oil by the end of the summer

Germany announced today that it is making progress in gaining independence from Russian fossil fuels and that it expects to be completely independent from the import of crude oil from Russia by the end of the summer.

Minister of Economy and Climate Robert Habek said that Germany reduced the share of imports of Russian energy to 12 percent for oil, eight percent for coal and 35 percent for natural gas.

Germany was under strong pressure from Ukraine and other European countries to reduce the import of energy from Russia, which brings billions of euros to Moscow, due to Russian aggression.

“All the steps we take require a huge joint effort of all actors, and so do the costs felt by both the economy and consumers. But they are necessary if we no longer want Russia to blackmail us,” Habek said as the European Union considered an embargo on Russian oil. decisions to ban Russian coal imports from August.

The statement states that Germany managed to switch to the import of oil and coal from other countries relatively quickly, which means that “by the end of the summer, there is a real end to the dependence on the import of Russian crude oil.”

Germany’s independence from Russian natural gas is a far greater challenge.

Before the Russian aggression on Ukraine on February 24, Germany received more than half of the imported natural gas from Russia.

That share has now dropped to 35%, partly due to increased procurement from Norway and the Netherlands, the Ministry of Economy announced.

To further reduce imports from Russia, Germany plans to speed up the construction of a liquefied natural gas (LNG) terminal and to open several floating LNG terminals this or next year.

By Editor

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