Germany Rejects Banning Russian Oil And Gas

A gas station shows record fuel prices in Gelsenkirchen, Germany, today Photograph: Martin Meissner/AP   

Politico: Germany’s Scholz rejects calls to ban Russian oil and gas  

Despite pressure from Kyiv and Washington, chancellor says Europe can’t wean itself off Russian energy overnight. 

BERLIN — German Chancellor Olaf Scholz today pushed back against calls from the U.S. and Ukraine for a ban on imports of Russian gas and oil as part of international sanctions on Moscow. 

“Europe has deliberately exempted energy supplies from Russia from sanctions," Scholz said in a statement, adding: "At the moment, Europe's supply of energy for heat generation, mobility, power supply and industry cannot be secured in any other way. It is therefore of essential importance for the provision of public services and the daily lives of our citizens." 

The Ukrainian government, with the banking of a number of U.S. and European politicians, has argued that the West must end imports of Russian energy in order to stop helping to finance Russian President Vladimir Putin's war chest.  

Read more .... 

Update #1: Oil Prices Sink As Germany Takes A Stance Against Ban On Russian Crude (OilPrice.com)  

Update #2: Germany and Hungary do not support sanctions on Russian energy (CNN)

Update #3: German ministers warn against boycotting Russian oil (Euractiv)  

WNU Editor: It looks like the squeeze of German energy supplies is starting .... Shell Limits Some Heating Oil Sales In Germany As Shortages Develop (Zero Hedge). 

It also looks like the U.S. is going to act anyway .... U.S. may act alone to ban Russian oil imports - sources (Reuters). More here .... House To Hold Imminent Vote On Ditching Trade Relations With Russia & Belarus, Including Oil Imports (Zero Hedge).