With an import stop for Russian oil by sea, the EU wants to put pressure on Russia. At the same time, the price cap for Russian oil comes into effect, and concerns about bottlenecks are growing. However, the Federal Ministry of Economics gives the all-clear.
The Federal Ministry of Economics does not expect bottlenecks in oil deliveries. The security of supply is guaranteed throughout Germany, which of course includes the east, said a spokesman for the ministry on Monday in Berlin. In addition to the Schwedt refinery, there is also a plant in Leuna in eastern Germany, both of which are well prepared for the current situation.
The contracts, based on Russian oil supplies, expired at the end of the year and would then be replaced. With a price cap for Russian oil, the EU, the G7 countries and Australia want to put further pressure on Russia in the war against Ukraine starting this Monday.
All 27 EU member states agreed over the weekend to cap Russian oil transported by sea at $60 a barrel. However, the set price of $60 per barrel (159 liters) is well above the cost of producing Russian oil and only slightly below the current market price. The price cap is aimed at Russian oil exports to third countries. However, the economic losses in Russia should be limited, at least in the short term. Ukraine and Poland in particular sharply criticized this.
For the EU itself, an import ban on Russian oil by sea will come into effect this Monday. However, this does not apply to pipeline oil. The spokesman for the Ministry of Economics added that there should be additional deliveries via Danzig for Schwedt. A declaration of intent was recently signed with Poland for this purpose.
Discussions were being held in Warsaw on the exact design. In addition, oil is to reach Schwedt via Rostock by pipeline. And it is also being considered to buy oil in Kazakhstan. "There are talks about it." With these measures, the production capacity in Schwedt should be kept at a high level.
