Report says, Germany Drops Opposition to Russia Oil Embargo

According to a report, the European Union has been able to ban Russia's oil imports altogether, after Germany changed its stance on such embargoes this week. The reversal from Germany, one of the EU's main opponents of the EU serving oil and gas trade with Russia after Berlin signed a contract with Poland to import oil from one of the Baltic Sea ports. 

Two German government officials have said that Germany's representatives to the EU have lifted opposition to Russia's oil embargo while Russia has plenty of time to find alternative supplies. According to German Economy Minister Robert Habeck, currently, around 12% of Germany’s oil consumption comes from Russian imports, reporting a fall from 35% at the beginning of the Ukraine war.

Reports also say that the deal with Poland will allow Germany to receive oil from exporters docking at the Baltic Sea port of Gdansk, a connected pipeline that funnels crude oil into a refinery operated by the Russian oil company Rosneft in Schwedt, Germany. 

The Schwedt refinery creates thousands of jobs in the region. If Rosneft refuses to process non-Russian imports, Germany can put the refinery under state control.