FT: German officials acknowledge possibility of oil shortages due to sanctions against Russia
MOSCOW, November 17 – RIA Novosti. The German government has recognized the possibility of shortages of petroleum products in certain parts of the country due to sanctions against Russian energy carriers. informs Financial Times newspaper.
The energy security problem of the eastern part of Germany, where there are large oil refineries (refineries) dependent on Russian oil, was brought up by opposition deputies from the Christian Democratic Union (CDU). One such facility, Schwedt, is a major supplier of gasoline, diesel, jet fuel and heating oil to the regional economy, serving large local customers, including Berlin International Airport.
In response to a request from lawmakers, the government spoke of measures to diversify Schwedt’s supply, but acknowledged that the embargo could cause problems for the region’s economy.
“Depending on the scenario, a local, temporary shortage of supply and price increases cannot be ruled out,” the ministers said in a response quoted by the publication. they said.
On 6 October, the EU introduced the eighth anti-Russia sanctions package, which includes both new economic restrictions and expanded personal sanctions lists. Among the economic sanctions is the introduction of a legal framework to set a price cap for the sea transport of Russian oil to third countries. It is planned that the price limit will be introduced on 5 December for oil and on 5 February 2023 for petroleum products.
Commenting on the West’s idea of limiting the prices of Russian energy resources, Russian President Vladimir Putin stated that Russia will not make any supplies abroad if it is against its own interests. Deputy Prime Minister Aleksandr Novak also stated that Russia will not supply oil to countries that will set a ceiling price. In his opinion, such restrictions are interference with market instruments, and Russia is ready to work with consumers who are ready to work in market conditions.
The West has stepped up sanctions pressure on Russia through Ukraine, which has led to higher electricity, fuel and food prices in Europe and the US. Russian President Vladimir Putin has previously stated that the policy of containing and weakening Russia is a long-term strategy of the West and that the sanctions deal a serious blow to the entire global economy. According to him, the main purpose of the West is to make the lives of millions of people worse. The Russian Federation has repeatedly stated that Russia will solve all the problems that the West has created for itself.
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