The finance minister of Ukraine wants a full and immediate energy embargo to make it harder for Russia to finance its military needs.
Serhiy Marchenko spoke about the embargo on Saturday.
The US would ban Russian energy imports, according to President Joe Biden. The EU has proposed a ban on Russian oil imports, including cutting out crude within six months, as part of the sweeping sanctions taken to put pressure on the Kremlin over the war in Ukraine.
Russia halted its gas supplies to Poland and Bulgaria, which was dubbed an instrument of blackmail by the European Commission.
Huge oil and gas prices help Russia to receive additional amounts to make their budget run with a surplus, according to Marchenko. In comparison, we have a huge deficit in our budget.
He said that a full embargo can make Russia suffer more than it is currently.
The US imports 3% of Russian oil, while the EU imports 40%.
On Wednesday, EU's President Ursula von der Leyen admitted that it was not easy to establish unity among the 27 members, but she was confident that an oil embargo could be agreed.
Von der Leyen said that it would not be easy. Some member states are dependent on Russian oil. We have to work on it. We want to ban Russian oil. This will be a complete import ban on all Russian oil.
More than 20% of the businesses in Marchenko's country are closed because of the war. It means that we cannot fulfill our duty as a government without international support or printing money.
Russia has taken control of most of the port cities in Ukraine, and without the country's harbors, the country cannot rely on its exports.
How to unblock the seaports of Ukraine is the main issue for the country now, according to Marchenko.
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