China News Service, Paris, May 5 (Li Yang and Li Yue) According to French media reports on the 4th, if the European Union finally decides to impose an embargo on Russian oil, although France will not experience the problem of fuel shortages, it is already at high fuel prices or will continue to rise.
According to French BFM TV, Le Monde and other media reports, the European Parliament held a plenary session in Strasbourg, France on the 4th.
European Commission President von der Leyen said at the meeting that the European Commission submitted the sixth round of sanctions proposals against Russia on the same day, including a gradual and complete ban on the import of Russian oil within six months.
According to EU rules, the European Commission's proposal requires the unanimous consent of the 27 member states to take effect.
Olivier Gantois, the former chairman of the French Petroleum Industry Federation, said on the 4th that if France is given a few months to restructure the supply chain, even if the Russian oil is embargoed, there will be no serious domestic supply difficulties in France. But the price of fuel may continue to rise.
According to French media reports, Russia is the world's main oil exporter, producing about 11 million barrels of crude oil per day, of which more than 5 million barrels are exported, while Russia also exports 1.5 million barrels of diesel per day.
European countries, especially France, which has insufficient diesel production, are highly dependent on Russian diesel exports.
According to data released by the French Petroleum Industry Federation, France's crude oil imports from Russia account for 10% to 12% of its total imports, and diesel imports from Russia account for 20% to 25% of its total imports.
But France has found other oil suppliers that can replace Russia, such as Middle East countries, North American countries and so on.
Gantois said that if the EU decides to embargo Russian oil, Russian oil may flow to India, African countries, South American countries and other countries and regions that have not imposed sanctions on Russia, and the oil of other oil-producing countries will be released. Come out, the EU can buy these released stocks at a relatively affordable price.
But he also said that this is only an idealized scenario, and that France will likely need to spend more money on oil purchases in the future.
Experts say some of the increase in oil prices will be passed on to consumers, who will have to pay an extra premium for French imports of non-Russian oil.
The EU embargo decision could also strain the world oil market, causing already high oil prices to continue to rise.
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