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German Chancellor Olaf Scholz addresses the assembly during the annual meeting of the World Economic Forum (WEF) in Davos, Swon May 26.
German Chancellor Olaf Scholz addresses the assembly during the annual meeting of the World Economic Forum (WEF) in Davos on May 26. (Fabrice Coffrini/AFP/Getty Images)

Germany is working “hard” to end its dependence on Russian gas imports, the country’s chancellor said on Thursday, adding that there was “no doubt” that Berlin and the European Union would end their dependence on energy imports from Moscow.

Russian oil could be completely phased out by the end of the year, Olaf Scholz added during his speech at the World Economic Forum in Davos.

He said Germany was looking to liquefied natural gas (LNG) terminals and other sources of supply.

The EU is following the “same path”, Scholz said. However, Ukraine is demanding maximum sanctions against Moscow, including an immediate ban on Russian oil and trade.

This restructuring will have an impact on EU economies, which is already being felt by rising energy prices, he warned.

A bit of context: Germany was one of Russia’s biggest oil importers last year.

Prior to the Ukraine crisis, an $11 billion undersea gas pipeline – Nord Stream 2 – was being built to deliver gas from Russia to Germany.

In February, when Russia invaded, Germany has suspended its approval of the pipeline, leaving the 1,230 kilometer (764 mile) pipeline empty since its completion in September 2021.

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2/ https://edition.cnn.com/europe/live-news/russia-ukraine-war-news-05-26-22/h_7c29772625066ff6b7b9712b3a7e4c8a

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