After the German government's change of course in the debate about an embargo on Russian oil, the way has been cleared for the sixth package of sanctions to be imposed.

The EU Commission wants to present the package to the states this Tuesday.

The ambassadors of the EU countries are to advise on Wednesday.

If possible, it should be up by the weekend.

From the point of view of the EU Commission, Hungary and Slovakia, which after Germany's "yes" are considered the last remaining opponents of the oil embargo, are also on board, it said on Monday in Brussels.

In return, they should be given a longer transition period.

Negotiations with the two countries, which are heavily dependent on Russian oil, continued throughout Monday.

Christian Geinitz

Business correspondent in Berlin

  • Follow I follow

Henrik Kafsack

Business correspondent in Brussels.

  • Follow I follow

Christian Siedenbiedel

Editor in Business.

  • Follow I follow

The oil embargo is not to apply immediately, but – as demanded by the German government – ​​to be phased in over a period of months.

It was considered likely on Monday that this would last until the end of the year.

According to the Commission, a distinction is also made between the affected products, i.e. which type and whether it is crude oil or refined oil.

Economics Minister Robert Habeck (Greens) confirmed on Monday before a meeting of energy ministers in Brussels that Germany was behind the embargo.

The prerequisite was to reduce German dependence on Russian oil from 35 to 12 percent.

"After two months of intensive work on it, I can say that Germany is no longer against an oil embargo."

Other countries take longer

For the rest, he expects a solution "in the next few weeks," said Habeck.

His ministry had previously made it clear: "Ending dependence on Russian crude oil imports by late summer is realistic." That would be in August, so only three months from now.

Other countries needed more time, which you also have to give them, said Habeck.

His Austrian colleague Leonore Gewessler made a similar statement.

"In the end, we have to be able to hold out longer than Russian President Vladimir Putin," Gewessler said.

Austria, along with Germany, Slovakia and Hungary, had blocked itself from an oil embargo for a long time.

Germany has managed to reduce dependency primarily by allowing contracts to expire.

The remaining 12 percent of oil that Germany purchases from Russia is accounted for by the PCK Schwedt refinery, which is supplied via the Druzhba pipeline.

From a "technical point of view" one could supply Schwedt via the ports in Danzig or Rostock.

Politically, however, the changeover is unlikely because the refinery is majority owned by the Russian company Rosneft.

No solution has yet been found for PCK.

According to the new energy security law, the plant could be put under state trusteeship, but that is complicated and takes a long time, the amendment will not come into force until June at the earliest.

The refinery may go into "technical bankruptcy" earlier, or Rosneft may "voluntarily" withdraw.

Brandenburg's Economics Minister Jörg Steinbach (SPD) confirmed this on Monday: "An embargo or a delivery stop for Russian oil would pose major challenges for the PCK refinery," he told the FAZ. "I therefore welcome the fact that Shell has declared that it is responsible for to be aware of the Schwedt location with its employees and the supply in particular to the region.” However, it is clear to everyone involved that Schwedt and also the refinery in Leuna would only be partially utilized after the discontinuation of deliveries through the Druschba pipeline.

Since they supply large parts of eastern Germany and Berlin with refined products - including kerosene for Berlin-Brandenburg Airport - shortages and outages are likely.

Prices are likely to continue to rise

A report by the Ministry of Economic Affairs for the Bundestag Economic Committee speaks of "temporary regional shortages".

"As a result, domestic fuel and heating oil prices are likely to continue to rise." After all, an embargo would "very likely not have any significant impact on the security of supply with electricity", because oil-fired power plants are only available for 2.9 gigawatts of electricity output.

In contrast to gas and coal, the situation on the oil market is also somewhat more relaxed because Germany maintains an oil reserve.

In two tranches, 9.8 million barrels have already been released, primarily to supply East Germany.

The price of oil had already reacted to the prospect of an oil embargo last week, but fell on Monday, mainly because of the strong dollar and economic concerns in China.

Fuel had also already become more expensive, most recently to 2.069 euros per liter of diesel and 1.998 euros per liter of Super E10.

According to ADAC estimates, Germany's continued exit from Russian oil will temporarily lead to rising fuel prices, especially in parts of eastern Germany - but not permanently throughout Germany.

As of June 1st, the reduction in energy taxes on fuel for motorists in Germany should offer some relief.