Germany is Russia’s largest buyer of gas and the second largest consumer of Russia’s oil products.
By the end of 2022, Germany could pay Russia 3 billion euros more for oil than last year, and double its spending on gas imports from Russia. In total, this amount will reach 33.9 billion euros and will be a record. This is stated in the report of Greenpeace.
Germany’s spending on Russia’s oil is said to have risen from 11.4 billion euros in 2021 to 14.3 billion euros in 2022. Russia’s gas spending has doubled – from 8.8 billion euros to 17.6 billion euros. Another 2.1 billion euros will be paid for Russian coal.
According to Greenpeace, energy supplies will bring Russia a record revenue of 290 billion euros by 2022. The report says Russia is “highly dependent on revenues from fossil fuel exports,” and more than a third of Russia’s state budget is funded by energy revenues. At the same time, Germany is Russia’s largest buyer of gas and the second largest consumer of Russia’s oil products, Greenpeace notes.
According to the organization, to complicate the financing of the Russian war against Ukraine, it is necessary to impose an embargo on imports of coal, oil and gas from the Russian Federation. However, the German authorities are still rejecting the embargo “for fear of high economic costs.” As an “intermediate” alternative, Greenpeace proposes to introduce a tax on Russia’s gas.
Two more options are possible: introduce a percentage payment to the price agreed under the contract (for example, 50%) or set a price limit at which gas can be imported from Russia, at the level before the start of the operation military. Greenpeace recalls that from 2015 to 2020, gas cost an average of 16 euros per MWh.
Recall that the EU is preparing a sixth package of sanctions against Russia and it should include an oil item. At the same time, Brussels said Russia’s complete oil decline would last.
In turn, German Foreign Minister Annalena Berbock said her country would supply oil from Russia by the end of this year. This process will take place in two stages.
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Source: korrespondent
