EU fails to agree Russian energy ban

[moon]

EU fails to agree Russian energy ban
The trade bloc was planning to slap sanctions on imports of oil and natural gas

The European Union’s foreign ministers have not agreed on a ban on Russian oil and natural gas imports, Head Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell said on Monday, adding that discussions on the issue will continue. The energy ban was expected to be part of the latest EU sanctions package against Moscow.


https://www.rt.com/business/553695-eu-russia-energy-ban-fails/


Russia seeks to end US-dominated world order – Lavrov
Washington acts based on ad-hoc rules that violate international law, foreign minister claims

https://www.rt.com/russia/553674-lavrov-military-operation-us-dominance/

Maybe Nord Stream 2 will soon be up and running after all.

 

[moon]

No alternative to Russian oil, OPEC tells EU
Sanctioning Russian oil could trigger record catastrophe, oil export cartel warns

Current and future sanctions on Russia could spawn one of the worst oil supply shocks in history, OPEC secretary general Mohammed Barkindo warned EU officials on Monday, adding that it would be impossible to replace the volume of oil lost in such an event. Some seven million barrels of Russian oil per day are leaving the world market as a result of sanctions and other restrictions on Russian trading, Barkindo claimed.

The price of politics: What will happen if the West really abandons Russian gas?
Read more The price of politics: What will happen if the West really abandons Russian gas?
The OPEC official also told the EU that the current volatility in the market is due to “non-fundamental factors” beyond OPEC’s control and that it is the responsibility of the EU to promote a “realistic” approach to energy transition.

The EU has announced it plans to join the US and UK in instituting an embargo on Russian energy products. However, unlike the US and UK, Europe imports a majority of its energy supplies from Russia, and experts have warned that attempting to cut off the supply could have catastrophic results. In particular, Germany is anticipating the collapse of entire industries, while the head of Austrian energy giant OMV has declared it would be “impossible” for his country to quit buying Russian gas.

https://www.rt.com/news/553712-eu-cant-replace-fuels-opec/