Putin says EU ditching Russian oil is ‘economic suicide’
04 June 2022 | 2:55 pm
Russia's president has said banning oil imports from his country would be impossible for some dependent European states, after the EU failed to reach consensus to impose the measure.
The European bloc is moving closer to banning Russian oil with Germany changing course to support the embargo. But many questions remain open.
As EU member states consider tightening restrictions on Russian energy imports, Italian Prime Minister Mario Draghi is among those calling for closer European integration. He says the bloc needs “structural solutions” to deal with soaring energy prices. Meanwhile, Italy and the UK take different stances over “windfall taxes” for energy giants as they reap record profits, and India's heatwave pushes electricity consumption to a record high.
The 27 EU member states are deliberating a gradual ban on Russian oil imports. Some countries, such as Hungary, Slovakia and Cyprus, are concerned about the repercussions of such a move on their economies.
A nuclear threat from Ukraine? A Ukrainian invasion of Crimea? Ukrainian neo-Nazis? Russian President Vladimir Putin's May 9 speech contained new and familiar accusations amid the war in Ukraine. Most of them are false.
Marcos Jr. is the son of ex-President Ferdinand Marcos, who ruled the country for decades under a brutal autocratic regime. Mending frayed EU-Philippine relations will be a challenge for the new leader.
The proposals would make it obligatory for companies operating in the EU to try to detect and report such cases, replacing a voluntary system that Brussels considers insufficient. Critics have raised privacy concerns.
As the British government indicates it is preparing to deviate from the Northern Ireland Protocol – a key part of the Brexit deal – the European Commissioner overseeing EU-UK relations tells FRANCE 24 he is "appealing to the UK government to come back to the negotiating table". Maros Sefcovic spoke to our Europe editor Catherine Nicholson.
Mikhail Kasyanov, who served as prime minister under Vladimir Putin in the early 2000s, told DW he believed that the Russian president had "already started to realize that he's losing this war."
Hungary's government is "holding European Union decision makers hostage" by refusing to join an EU-wide embargo on Russian oil, according to Lithuania's foreign minister. This comes as EU leaders continue their efforts to gather support for a sixth sanctions package on Russia from all 27 EU member states. The government of PM Viktor Orban has claimed that an import ban on Russian oil would ruin the Hungarian economy. Lithuania's Foreign Minister Gabrielius Landsbergis tells FRANCE 24 that "Europe is weaker" as a result, and that he is "still hoping Budapest will be responsible in their decisions".
Rising energy and commodity prices resulting from Russia's war in Ukraine are slowing Europe's economic growth and increasing inflation.
It never happened during the entire Cold War. But all these years later, Russia's border with NATO is about to double in size. Finland remains unmoved by threats out of the Kremlin over its bid to join the US-led alliance. The same goes for neighbouring Sweden, which is so concerned by Vladimir Putin's invasion of Ukraine that it is ready to call time on two centuries of neutrality.
Brussels has said a British proposal to effectively override parts of a Brexit deal with a new law is "not acceptable." The UK has proposed a new law to drop part of the Brexit agreement on Northern Ireland trade.
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