France and the United Arab Emirates are having "discussions" to discuss alternatives to Russian oil that has been affected by an EU embargo, Bruno Le Maire, French Economy Minister, said Sunday.
"These are talks that are already underway avec the United Arab Emirates," stated the tenant of Bercy, Europe 1 and CNews. He added that Paris was looking to find "substitutes in the supply of gasoline or diesel from Russia".
Friday's sixth round of sanctions by the European Union against Moscow included a suspension of oil supplies and a drying of their assets. This is in order to be less involved in financing the Russian war on Ukraine by massive energy purchases from Vladimir Putin.
Two thirds of European imports will be affected by the progressive embargo. According to the Europeans, Russian imports will be affected more than 90% due to Germany and Poland deciding on their own to suspend deliveries via Druzhba by the end the year.
A temporary alternative is at least
According to Mr. Le Maire.
Thierry Breton, European commissioner responsible for the internal market, stated on Europe 1 earlier Sunday that "behind it will also become necessary, and we are preparing for it", citing the desire to increase imports from Qatar and the United States of liquefied petroleum gas.
The war caused a rise in food and energy prices, which had a significant impact on French growth prospects.
According to the Minister of Economy, the French government will revise its growth forecast from 4% to 4%. This is because "it is evident that with the war in Ukraine and inflation, all these will cause the prospects".
Bruno Le Maire believes that growth will be "positive" in 2022, but Bruno Le Maire delayed the announcements about revision of the outlook to after the legislative elections.
