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Tuesday, May 17, 2022

Germany reiterates energy sanctions on Russia, warns about negative consequences

Chancellor of Germany Olaf Scholz said on Tuesday, March 22, that he opposes cutting off Russia's energy supply, calling oil and gas imports "essential important" to the European economy.

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Chancellor of Germany Olaf Scholz said on Tuesday, March 22, that he opposes cutting off Russia’s energy supply, calling oil and gas imports “essential important” to the European economy.

The country reiterated its opposition to energy sanctions put on Russia, warning that it could have negative consequences which can impact European Economy.

German Chancellor Olaf Scholz said European countries should carefully analyse the suggested measures during a joint press conference with European Parliament President Roberta Metsola in Berlin.

He further stated, ” Imposing sanctions should have an effect on Russian economy, but during the same time, we must ensure that they have minimal repercussions for our economies and that we are able to enforce them.”

Scholz emphasised that, in the short term, not just Germany but also many other EU nations still need to purchase gas, oil, and coal from Russia because they have no other alternatives.

“However, we have decided to become independent in coal, gas, and oil imports from Russia as soon as possible, and we are working on this at full speed,” he added.

The EU countries had already put the “harshest ever sanctions” against Russia last month in response to its aggression on Ukraine, according to the German Chancellor.

“These sanctions have begun to show their impact on Russia’s economy,” he said, adding that “it will become more dramatic every day.”

Scholz reiterated his appeal for Russian President Vladimir Putin to immediately end all combat movements in Ukraine and evacuate Russian soldiers.

“A cease-fire is urgently required to put a stop to the unimaginable suffering and destruction,” he stated.

Russia’s assault on Ukraine, which began on February 24, has prompted international condemnation, financial penalties, and an exodus of global companies from the country.

At least 953 civilians have been killed, and 1,557 others have been injured in the Ukraine-Russia conflict, according to the UN, which also noted that the number of people fleeing the country had surpassed 3.5 million.

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