EU embargo on Russian oil would hit 'everyone', Kremlin warns

Posted 21 March, 2022

The Kremlin said on Monday that a potential European embargo on Russian oil would hit "everyone", at a time when the European Union must study at a meeting the possibility of new sanctions against Moscow.

“Such an embargo would have a very serious influence on the world oil market, a harmful influence on the energy market in Europe. But the Americans will not lose anything, it is obvious, they will feel much better than the Europeans”, said Dmitry Peskov, spokesman for the Russian presidency.

"It's a decision that would strike everyone," he continued, during a press briefing.

European Union foreign and defense ministers are due to meet on Monday for a meeting to discuss new sanctions against Moscow.

The EU has already adopted several sets of sanctions against Moscow since the offensive in Ukraine, massively targeting companies, banks, senior officials, oligarchs, and banning the export of goods to Russia.

European imports of Russian gas or oil have so far been spared because of their cost for Europeans, who are very dependent on Russian hydrocarbons.

Germany, in particular, has been criticized for its opposition to an immediate embargo on Russian hydrocarbons, on which it depends heavily.

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