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Canada EU oil embargo: On the long bank

19:30  13 april  2022
19:30  13 april  2022 Source:   tagesspiegel.de

The Baltic countries have to import Russian gas

 The Baltic countries have to import Russian gas © supplied by the gallery while the European Union is struggling to overcome the Russian gas that represents 40% of its imports, the Baltic countries (Latvia, the Estonia and Lithuania) ended April 1st imports from natural gas from Russia. A size challenge. According to Eurostat, in 2020, Russia accounted for 93% of Estonian natural gas imports, 100% of Latvian imports and 41.8% of Lithuanian imports.

The EU continues to discuss an oil embargo against Russia. Safe seems one: before the runoff in France is not much to move in the topic.

Die Angst vor noch höheren Benzinpreisen treibt den französischen Präsidenten Emmanuel Macron um. © Photo: Sven Hoppe / DPA The fear of even higher gasoline prices drives the French President Emmanuel Macron.

A import stop imposed by the EU for oil from Russia is considered effective sanctioning agent in order to increase economic pressure on the Russian President Vladimir Putin again. In the sixth sanction package currently discussed at EU level, an oil embargo is so far excluded. Previously, the EU Commission proposed to prove Russian oil with a penalty. However, in the EU, it is not only discussed about the design of an oil embargo, but also over the schedule - and there is a dispute among the Member States.

German industry supports sanction course against Russia

 German industry supports sanction course against Russia The German industry supports the sanction course of the Federal Government and the European Union against Russia. © Britta Pedersen / dpa central picture / dpa Siegfried Russwurm, President of the Federal Association of German Industry e. V. (BDI), at a press conference in Berlin. «The atrocities in Bucha call for a decisive, unmistakable reaction of the West," said Siegfried Russwurm, President of the Federal Association of German Industry, the German Press Agency in Berlin.

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Before the Second Round of the French Presidential Election on April 24, , there is unlimited movement in the topic, an EU representative said Wednesday the Tagesspiegel. The background: Rising gasoline and energy prices As a result of an oil embargo, the chances could be for a re-election of the President Emmanuel Macron Macron.

Germany wants to gradually throttling the deliveries

Video: Austria: Defense Budget should be increased (ATV)

as a possible time for a decision on an oil embargo also applies to the 30./31. May; In six weeks, an EU Special Summit is planned in Brussels. Such a timing would be within the meaning of the Federal Government, which in principle advocates an oil embargo, but a step-by-step exit from Russian imports wants until the end of the year. On Wednesday, the Deputy Government Speaker Wolfgang Büchner reaffirmed that the Federal Government rejects an immediate oil import stop.

Federal government to approve controversial Bay du Nord oil project

  Federal government to approve controversial Bay du Nord oil project The federal government will formally approve the Bay du Nord offshore oil project after markets close at 4 p.m. ET, CBC News has learned from multiple sources who are not authorized to speak publicly. CTV was first to report the news. Bay du Nord has been panned by environmental activists and climate scientists, who say it flies in the face of the federal government's climate goals. The project has also caused disagreement within Prime Minister Justin Trudeau's Liberal cabinet. In February, Radio-Canada reported that cabinet members from Quebec, Ontario and British Columbia were opposed to its approval.

countries such as Poland or Baltic States could leave

open, however, how long countries like Poland or the Baltic States, which urge a faster pace at an oil import stop, in this issue, in this issue. "It will come the moment when we can no longer hold back the more ambitious Member States," said the EU representative with a view to the possibility that countries like Poland already an import stop for Russian oil before a possible EU decision impose.

Committee chairman for rapid delivery stop

meanwhile pleaded the chairmen of the Defense, Foreign and European Committee, Marie-Agnes Strack Zimmermann (FDP), Michael Roth (SPD) and Anton Hofriter (Green), for a fastest possible import stop for Russian oil. The three politicians had participated in a meeting with Ukrainian parliamentary colleagues in Lviv on Tuesday at the invitation of the Ukrainian parliamentary parliamentphs Halyna Jantschenko .

Bank of Canada hikes key interest rate 50 basis points for 1st time in 22 years .
The Bank of Canada is raising its key interest rate by half a percentage point, up to an even one per cent, in its first move of that magnitude in more than 20 years.The central bank’s key overnight rate now stands at one per cent.

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