Germany warns of “interruptions” in oil supplies if Russian crude is banned

BERLIN (Reuters) – German Economy Minister Robert Habeck said on Wednesday that a gradual European ban on Russian oil imports could lead to “disruptions” in supplies and higher prices, but he supported the project as a necessary step to punish Moscow.

“I have said several times that we cannot guarantee in this situation that there will be no unrest, especially regional, “he told reporters after a government meeting, adding that Berlin supports the blockade move in response to the invasion of Ukraine.

Habek stressed that the oil supply is sufficient until an alternative to Russian oil is found.

The German economy minister also stressed that his country would offer job opportunities to Russians in escape from their country.

Habeck had confirmed that Germany would not stand in the way of a total ban on Russian oil.

Habek said Europe’s largest economy could also face a complete power outage on the Russian side.

He added that Germany is currently looking for ways to replace Russian oil with other supplies and there will be no disaster if Russian supplies are cut off.

But Habek noted that the ban on Russia could backfire and could allow it to sell its oil at higher prices to other buyers.

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