Borrell says no EU agreement on Russian energy embargo

div classBodysc17zpet90 cdBBJodivpBERLIN Reuters – There is insufficient support from European Union member states for a complete embargo or punitive tariff on Russian oil and gas imports, the EUs top diplomat Josep Borrell was quoted as saying by German newspaper Die Welt on Monday.p

p“At the moment, we in the EU do not have a unified position on this question,” Borrell told the newspaper.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pOil exports are the Kremlins main source of foreign currency and many within the EU have called for an end to oil payments because they effectively finance the war in Ukraine, which Russia calls a “special military operation”.p

pSome EU countries are pushing for a sixth sanctions package on Russia and Brussels is preparing a full impact assessment of an oil ban as part of possible further measures.p

pRussia is Europe‘s biggest oil supplier, providing just over a quarter of EU oil imports in 2020, according to data from the bloc’s statistics office Eurostat.p

pBorrell said the topic will be discussed at the next EU summit due at the end of next month and that he did not expect any decision on the matter before then.p

p“A final proposal for an embargo on oil and gas is not yet on the table,” he said. p

pThe EU Commission will probably make proposals for a sixth package of sanctions to the member states this week, Die Welt said, without citing sources.p

pAll EU states are working to cut their dependency on Russian oil and gas, Borrell said, adding that he believed the bloc will be able to reduce its dependency eventually.p

p“At some point it will happen and then Russia will feel painfully that the revenues from the oil and gas business are being lost,” he added. p

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pp Reporting by Riham Alkousaa Editing by Emelia SitholeMatarisep

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