European officials have signaled they could sanction Russia’s energy exports after footage emerged of mass killings of civilians in Bucha, near the Ukrainian capital.
Josep Borrell, the European Union’s top diplomat, said in a statement on Monday that the bloc was working “urgently” on drafting new sanctions against Russia.
French President Emmanuel Macron said he would support a total ban on Russian coal and oil exports to the European Union as early as this week.
Speaking to a French broadcaster, Macron said there were “very clear signs” that war crimes were committed in Bucha and that “it is well established that the Russian army” is responsible for them.
“We can’t let it go. We must have sanctions that deter with what happened there [em Bucha]what is happening in Mariupol,” Macron said.
Europe has imposed punitive economic sanctions on Russia since President Vladimir Putin ordered the invasion of Ukraine in February.
But exports of oil and natural gas have so far been spared by the bloc — in part due to differences between member states that rely heavily on Russian energy and those that want to move faster to attack the heart of the Russian economy.
But a blockade on Russian gas exports would exacerbate rising inflation in Europe’s economies and could push Germany — Russia’s biggest energy customer — and other countries into recession.
“In the event of an interruption of Russian gas deliveries, the situation would be aggravated,” Deutsche Bank CEO Christian Sewing said in a statement. “A substantial recession in Germany could hardly be avoided.”
However, shocking scenes in Bucha over the weekend — a Kiev suburb that until recently was occupied by Russian forces — could persuade import-dependent countries to take the economic hit.
The bodies of unarmed civilians were found strewn across the roads, tied up and shot. Russia has denied any involvement in the incident.
Which European countries are most dependent on gas from Russia?
The estimated level of dependence on the energy composition of each nation varies from 0 to 25%
The stakes are high. The European Union imported nearly 100 billion euros ($110 billion) of Russian energy last year. Russia supplies about 40% of the bloc’s natural gas imports and about 27% and 46% of its imported oil and coal, respectively.
EU leaders have pledged to reduce Russian gas consumption by 66% before the end of this year and end the bloc’s dependence on Russian energy by 2027.
Russian oil has already been banned by the US and UK, and a de facto broader embargo has been put in place as banks, traders, transporters and insurance companies try to avoid running afoul of financial sanctions.
The International Energy Agency says Russia could be forced to cap production at 3 million barrels a day, starting this month, as it struggles to find buyers.
Some EU countries want the bloc to go further and have been calling for a ban on Russian natural gas for weeks. One has just taken the step. Lithuanian Prime Minister Ingrida Šimonytė said in a tweet on Sunday that “from now on, Lithuania will not consume a cubic centimeter of toxic Russian gas”.
Germany has so far ruled out an immediate ban, but a government minister said on Sunday it must now be under discussion.
“There has to be an answer,” she said. “Such crimes must not go unanswered,” German Defense Minister Christine Lambrecht said in an interview with public broadcaster ARD.
Finance Minister Christian Lindne said on Monday that Germany supports new sanctions on Russia, but cutting off gas supplies is not possible at the moment.
“We have to put more pressure on Putin and we have to isolate Russia, we have to cut off all economic relations with Russia, but at the moment it is not possible to cut off the gas supply.” Lindner to reporters in Luxembourg.
“We need some time and so we have to differentiate between oil, coal and gas at the moment,” he added.
Some fear that Hungary — another big buyer of Russian gas — could lift any energy sanctions. Polish Prime Minister Mateusz Morawiecki said on Monday he would try to “persuade” Viktor Orban, Hungary’s newly re-elected prime minister and the EU leader closest to Putin, to support a blockade on gas imports.
“I urge the leaders of the European Union to act decisively, implement actions that finally break Putin’s war machine and take his breath away,” Morawiecki said.
Last week, the United States tapped into its strategic oil reserves, releasing 180 million barrels of oil onto the global market, to help drive down gasoline prices and combat dwindling Russian oil supplies.
The IEA also agreed to release additional oil from its member countries at an emergency meeting on Friday.
Test your knowledge of the conflict between Russia and Ukraine
Between November 2021 and February 2022, the world watched tensions between Russia and Ukraine escalate. Test your knowledge of the news
Russia and Ukraine were part of the Soviet Union during the 20th century. In what year did the USSR split and these republics form?
What are the Donetsk and Luhansk regions?
Who is Volodymyr Zelensky?
What does the acronym NATO mean?
Tick the alternative that correctly shows three countries that support Russia in the invasion of Ukraine
Which of these countries have already announced economic sanctions against Russia?
Which of these Ukrainian cities has already suffered from Russian bombing?
What was the first country to send aid to Ukraine after the invasion?
On February 24, Russia invaded the site of a tragedy that took place in 1986. What is this region?
What is the name of the set of military laws that replace civil laws in times of war?
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— Livvy Doherty, Chris Liakos, Joseph Ataman, Elias Lemercier, Anna Odzeniak, Niamh Kennedy, Inke Kappeler, James Frater, and Mark Thompson contributed to this story.
Source: CNN Brasil
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