German Finance Minister: country is ready for an immediate embargo on russian oil
Germany's economy will be able to withstand an immediate embargo on russian oil. Finance Minister Christian Lindner is confident that the consequences will not be too serious.
Reuters reports.
"russia's imports of coal and oil can now be abandoned," Lindner of the Free Democrats (FDP) said, noting that fuel prices could rise.
Chancellor Olaf Scholz's government is under pressure to reduce Germany's dependence on russian fossil fuels. He is accused of lacking leadership after resisting the supply of heavy weapons to Ukraine.
Germany cut its share of russian oil to 25% of total imports last month from 35% before the invasion.
At the same time, Economy Minister Robert Habeck said Germany would be able to withstand the EU embargo on russian oil imports by the end of this year.
"We have managed to reach a situation where Germany can withstand the oil embargo," Habeck (the Greens) told a news conference.
Habeck said Germany's main task was to find alternative oil supplies to a Swedish refinery run by russia's state-owned Rosneft, which supplies East Germany and the capital's Berlin district.
