Ukraine officially proposes that the EU stop importing energy resources from Russia

"Evropeyska Pravda" FRIDAY, 22 APRIL 2022, 19:40

Ukraine has appealed to the Secretariat of the Energy Community, the European Union and the participants of the Energy Community Treaty with a proposal to introduce a ban on energy imports from Russia.

A copy of the appeal was published by the adviser to the Minister of Energy, Lana Zerkal, on her Facebook page.

"Today Ukraine has officially addressed a proposal to the Secretariat of the Energy Community, the European Union and the parties to the Energy Community Treaty to ban the purchase, import, transfer and transportation of energy products which originated, were produced or were processed in Russia," she said.

It is reported that Ukraine took advantage of the fact that it holds the rotating presidency of the Energy Community and submitted a relevant legislative proposal.

"This legislative initiative will transform the discussion of the energy embargo from general statements and promises into a formal decision," Zerkal said.

As an urgent measure, Ukraine proposes that an embargo be imposed on all Russian energy sources that can easily be replaced. In particular, all deliveries by sea, rail and road (coal, tanker oil, fuel and LNG) should be banned.

In the short term, the proposal is to announce an embargo on Russian pipeline oil, which will come into force in 6-9 months, when countries have reorganised their markets.

The proposal also involves imposing financial restrictions on payments for gas supplies from Russia. In particular, special accounts would be introduced for the accumulation of all funds from the sale of Russian pipeline gas.

"In such ‘Iranian’ or ‘Iraqi’-type sanctions, gas must be allowed, but payments must be kept in a deposit account in the EU. Such payments may be released if Russia fulfils certain security conditions," Zerkal said.

"The introduction of a special duty on Russian energy could be an alternative, which will reduce the income from their sale to the level set by the European Commission," she added.