Germany rules out embargo on Russian oil, gas supplies

BERLIN (AA) - Germany on Monday ruled out banning energy imports from Russia despite plans by the US and several European allies to adopt tougher sanctions on Moscow to stop the war in Ukraine.

“There is currently no other way of securing Europe's supply of energy for heating, for mobility, for power supply and industry,” Chancellor Olaf Scholz said in a statement.

“The federal government has been working with its partners within the European Union and beyond for months to develop alternatives to Russian energy. But that won't happen overnight,” he added.

Scholz reiterated Germany’s support for economic and financial sanctions, but underlined that the energy sector was deliberately excluded from Western sanctions.

“All our steps are designed in such a way that they hit Russia hard and they are sustainable,” he stressed.

His remarks came a day after US Secretary of State Antony Blinken confirmed that they were in talks with European partners about banning the import of Russian oil to Western countries.

Oil, natural gas, and coal prices in global markets reached record levels on Monday, following reports of potential new Western sanctions against Russia, including the energy sector.