“There are discussions about what can be done in the energy sector, like coal and oil,” EU Trade Commissioner Valdis Dombrovskis said ahead of a meeting of EU finance ministers in Luxembourg to discuss the content of a fifth package of European sanctions.
“For the European Commission, it is definitely an option. But we need to find a consensus among member states,” he acknowledged.
The Twenty-Seven are divided on the question of sanctions which require unanimity. Poland and the Baltic countries are pushing for tough measures targeting the energy sector which is one of Russia’s main resources for financing the war in Ukraine.
But other countries, mainly Germany, but also Austria, are very reserved, because of the cost inflicted on their economic activity very dependent on Russian fossil fuels.
Austrian Finance Minister Magnus Brunner acknowledged that coal measures would be discussed on Tuesday, without mentioning oil.
“We have to be careful with the sanctions and calmly consider their consequences for ourselves. If we are more affected than Russia, then it doesn’t make much sense,” he said.
Russia is the EU’s largest supplier of fossil fuels. It alone accounts for around 45% of gas and coal imports, and 25% of those of oil.
AFP