“The transition period is so long that we can take all preventive measures to find an alternative to Russian oil for Germany,” RIA Novosti quoted him as saying.
According to him, the transitional period for abandoning oil will be 180 days.
He added that during this time changes in market prices are possible, but stressed that Germany "as a country" will be able to afford the oil embargo.
Earlier, the head of the Russian Ministry of Finance, Anton Siluanov, allowed a 17% reduction in oil production in 2022 due to the Europeans refusing to purchase it.
The head of the European Commission, Ursula von der Leyen, announced on May 4 a new package of sanctions with a clause for a phased ban on Russian oil.