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Germany intends to refuse to import Russian oil


May, 02 2022
watermark Economic news

The German government has stated that Germany may abandon Russian oil, while allowing for a likely increase in fuel prices. 


«For coal and oil, the rejection of Russian imports is already possible. But it cannot be ruled out, among other things, that this will have an effect at gas stations, fuel prices may rise after such a decision,» Finance Minister Christian Lindner said.


Earlier, German Cabinet spokesman Steffen Hebenstreit said that EU countries are discussing the introduction of an embargo on Russian oil as a possible part of the sixth package of sanctions against Russia, but a decision has not yet been made.


Germany also stressed that it does not plan to pay for Russian gas in rubles, either now or in the future. Earlier, on April 27, Russian Gazprom announced that it had suspended gas supplies to Bulgaria and Poland after these countries refused to pay in rubles.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.