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German Fin Min: Germany Would Back Any EU Plan To Increase Russian Sanctions

EU

Delivering doorstep comments ahead of today's Eurogroup meeting, German Finance Minister Christian Lindner states that Germany 'would support any EU plan to increase Russian sanctions'.

  • Clip can be seen here: https://video.consilium.europa.eu/event/en/25623?a... (in German).
  • However, Lindner re-states German opposition to banning Russian oil imports, stating that a ban 'would have the opposite effect to the one intended'.
  • German as a large importer of Russian hydrocarbons would be hit hard by a ban. Rationale is that banning Russian oil imports sees EU nations seeking oil from a smaller pool of exporters, pushing up global prices further, thereby bolstering Russian fiscal reserves as Moscow can sell to other nations at a higher price.
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