On May 2nd, German Foreign Minister Annalena Baerbock said Berlin was ready to support a gradual, EU-wide embargo on Russian oil. Germany could keep it in such a way over the coming years if necessary, which was a significant shift for Moscow’s most prominent energy customer.
On May 1st, German Economy and Climate Minister Robert Habeck said Germany could wean itself off Russian crude oil by late summer. Before Moscow invaded Ukraine, Russian oil, coal, and gas accounted for roughly 35%, 50%, and 55% of German consumption in 2021, while Germany had already reduced the share of Russian energy imports to 12% for oil, 8% for coal and 35% for natural gas.
How Germany Became so Dependent on Russian Natural Gas
Image Source: business insider
However, Habeck also pointed out that the embargo on Russian oil was a heavy economic burden on Germany in light of the consequent energy price increases, which he emphasized wouldn’t result in an oil supply crisis in Germany. Habeck believes Germany must take necessary measures to deprive itself of Russian energy if it no longer wants to be blackmailed by the Kremlin.
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