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Germany Want EU Oil Ban, With or Without Hungary

OIL

Germany is willing to support an EU oil ban against Russia without the participation of Hungary based on an interview with German Economy Minister Robert Habeck on Deutschlandfunk radio.

  • “If the Commission president says we’re doing this as 26 without Hungary, then that is a path that I would always support,” Habeck said.
  • Germany has pushed hard to end its reliance on Russian fossil fuels, agreeing deals with Poland to gain further access to waterbourne crudes via the port of Gdansk to end its need for Druzhba pipeline flows.
  • The EU oil ban has been held up by Hungary, which is unwilling to take part in the proposal for fear of the impact on the economy due to the country’s reliance on Russian piped flows.
Energy BulletsCommodities
Energy BulletsCommodities

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