Mass media: EU to have talks with OPEC amid calls to increase oil production and possible sanctions against russian oil

Representatives of the European Union and OPEC will hold talks in Vienna on 11 April amid calls to the group of producers to increase oil production and on the possibility of imposing the sanctions against russian “black gold”, informs Al Arabiya. The meeting is the last one within the dialogue the parties started in 2005.The Organization of the Petroleum Exporting Countries resisted the call of the USA and the International Energy Agency. Those demanded to pump more oil to bring down the prices, which reached their peak last month after the sanctions against the rf were imposed following its intervention in Ukraine.Now, the ОПЕК+, which includes the Organization of the Petroleum Exporting Countries, and other producers with russia among them, will increase the output by approximately 432 thous. barrels a day in May this year.Today, EU sanctions are not applied to russian oil. Last week, however, 27 countries agreed to impose sanctions against coal from the rf. Some high-ranking EU officials declared then that oil might be the next to follow. As ministers of foreign affairs of Ireland, Lithuania, and the Netherlands stated on 11 April at the meeting with their EU counterparts in Luxembourg, now the European Union is developing proposals related to oil embargo against Russia.Australia, Canada, and the USA have already banned russian oil imports – these countries are less dependent on russian oil supply than Europe. Meanwhile, the EU countries have no unanimity on the issue if this example is to be followed since it might result in an increase in prices for energy resources in Europe which are already high enough.Now, the European Union expects to be able to reduce oil consumption by 30 percent by 2030.On 1 April, the US President Joe Biden stated that over 30 countries will release oil reserves to decrease prices on the market. Soon after that, Denmark approved the decision to refuse from oil import from the russian federation. And the Minister of Economics of Finland said that his country is ready to refuse from russian “black gold”. On 7 April, the European Parliament called on to immediate embargo on import of russian energy sources to the EU.