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EU can still consider oil embargo or approve alternative - German Finance Ministry

Mr. Habeck did not specify what "other methods" could be considered.

EU can still consider oil embargo or approve alternative - German Finance Ministry
Robert Habeck
Photo: EPA / UPG

The EU may still agree to impose an oil embargo in the coming days or will look for "another methods" if no agreement is reached.

Robert Habeck, the German Minister of Finance, informed about this at the Group 7 negotiations in Berlin, Reuters informs.

He pointed out that all EU countries should reduce their dependence on oil.

"In particular, Hungary. If we consider the discussion as a basis, the agreement may be possible. If we include other issues in the oil embargo, it will be very, very difficult," the Minister said.

Mr. Habeck added that he was aware of the continuation of intensive discussions. The next meeting of the EU Council will take place in five days.

"And I think this is the corridor in which either an agreement will be reached or other methods will have to be considered," he said.

To remind, Hungary is blocking the decision to impose an oil embargo. The country said it would cost too much. Péter Szijjártó, the Foreign Minister, said that if they refuse the supplies from Russia, the price of oil will increase by 55%.

The sixth sanctions package was presented by the European Commission on May 4, and it has not yet been approved.

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