Germany: We will not stand in the way of a global Russian oil embargo

German Economy Minister Robert Habeck confirmed that his country will 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.

The German economy minister said earlier that the risk of supply cuts must be taken seriously.

And the president of the European Commission, Ursula von der Leyen, had warned European companies not to give in to Russia’s requests, stressing that the payment in rubles was a violation of sanctions.

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