Russian official claims ‘EU will buy Moscow’s oil through third countries at higher rates’

After the European Union’s (EU’s) proposal to ban the import of Russian oil by the end of this year, Russia’s Federation Council Committee on Foreign Affairs’ first deputy head claimed that the 27-member bloc would have no option but to purchase it through third countries and that too, at a higher price. “It seems to me that they have gone a little crazy. They say that they won’t buy oil from us. Well, don’t buy it, we don’t push it on you.

But, you will still buy it, only through third countries. Our oil is the same, only more expensive,” RIA Novosti news agency quoted Vladimir Dzhabarov as saying. He further stated that the EU is willing to go to such lengths to annoy Russia. “The flag is in their hands,” he added. 

Dzhabarov also termed the policy of the European Union meaningless for taking such “ill-conceived decisions.” According to him, they would suffer the consequences of such decisions when the people of EU countries express their dissatisfaction with the increased prices for food as well as fuel. “They won’t be able to speculate on Russia for a long time. Voters will ask them why cheaper goods are not supplied?” Dzhabarov said, adding that the European officials are “wiping themselves out from their political future.”

EU leader calls on member states to restrict oil imports from Russia

Meanwhile, the President of the European Commission called on member states to restrict oil imports from Russia and target the country’s largest bank and major broadcasters in the sixth package of sanctions against Moscow. Addressing the European Parliament in France on Wednesday, Ursula von der Leyen urged the EU member states to phase out Russian crude oil imports within six months and refined products by the end of the year. “We will make sure that we phase out Russian oil in an orderly fashion, in a way that allows us and our partners to secure alternative supply routes and minimizes the impact on global markets,” she said, as per the AP. 

EU initiates discussions on possible natural gas embargo

The EU imports around 25% of its oil from Russia, the majority of which is used to make gasoline and diesel for automobiles.

According to S&P Global analysts, Russia provides around 14% of diesel, and a cutoff may send already high costs for truck and tractor fuel skyrocketing.

The EU has also commenced talks about a possible natural gas embargo, but reaching an agreement among member states on how to target the fuel needed to generate electricity and heat homes could be more challenging.

Notably, Russia provides around 40% of the region’s natural gas, according to AP

Image: AP

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